https://newsletter.en.creamermedia.com
Africa|Business|Energy|Eskom|Infrastructure|Power|Projects|Renewable-Energy|Infrastructure
Africa|Business|Energy|Eskom|Infrastructure|Power|Projects|Renewable-Energy|Infrastructure
africa|business|energy|eskom|infrastructure|power|projects|renewable-energy-company|infrastructure

Red Rocket of South Africa hires Goldman to explore sale option

24th April 2024

By: Bloomberg

  

Font size: - +

Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business – including a possible sale.

Shareholders of the Cape Town-based company “have decided to explore strategic options,” for the business, CEO Matteo Brambilla said by email.

Red Rocket, whose backers include French infrastructure and energy investor STOA and Netherlands lender FMO, has invested an estimated $1-billion in renewable-energy projects across Africa, according to the company’s website. The group raised $160-million from investors last year, and is currently constructing another 750 MW of projects to add to the portfolio.

The firm is one of a string of independent South African electricity providers to have sprung up in recent years, looking to exploit a gap in the market left by State-owned Eskom Holdings, which has long struggled both financially and to keep the lights on. Further deregulation of the country’s power sector is expected to help them grow in stature, especially as more people look for better options than relying on the government-owned group.

Edited by Bloomberg

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024
Value-adding titanium dioxide pigment under development
Value-adding titanium dioxide pigment under development
6th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.077 0.174s - 209pq - 2rq
Subscribe Now