https://www.engineeringnews.co.za
Africa|Business|Construction|Energy|Financial|Industrial|Infrastructure|Power|Projects|Solar|Storage|Sustainable|Systems|Solutions|Infrastructure
Africa|Business|Construction|Energy|Financial|Industrial|Infrastructure|Power|Projects|Solar|Storage|Sustainable|Systems|Solutions|Infrastructure
africa|business|construction|energy|financial|industrial|infrastructure|power|projects|solar|storage|sustainable|systems|solutions|infrastructure

Gridworks completes Mettle Solar investment, appoints new chairperson

2nd December 2019

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Gridworks, the company set up this year to develop and invest in Africa’s electricity networks, on Monday announced the financial close of its investment in Mettle Solar Investments.

Mettle is a South Africa-based commercial and industrial (C&I) solar power company that provides energy solutions to business customers across Africa.

Mettle will receive R106.7-million of equity funding from Gridworks.  

The investment by Gridworks will also see Mettle appoint Mbuvi Ngunze as its new chairperson.

Ngunze is an experienced African business leader, who is currently a senior adviser at Catalyst Principal Partners.

Mettle currently has 34 projects with a total capacity of 28.1 MW in operation in South Africa, Namibia, Kenya and the Indian Ocean islands with a further 2.3 MW currently under construction.

It works with business clients to fund, develop and operate solar power technologies, including battery storage, that provide consistent, affordable clean energy.

Gridworks’ investment, its first since launching in June, is expected to help Mettle access new markets across Africa.

The investment aims to reduce carbon emissions and demonstrate the commercial viability of C&I systems for businesses on a continent where 70% of total energy demand currently comes from commercial and industrial customers.

Capitalised by CDC, Gridworks plans to invest more than $300-million in improving transmission and distribution infrastructure to deliver reliable and sustainable power.

Gridworks’ mandate covers transmission and distribution infrastructure, as well as on- and off-grid solutions, which include minigrids and C&I solar systems.

Two Gridworks representatives, Simon Hodson and Chris Flavin, will sit on Mettle’s board of directors.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT 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 

Latest Multimedia

sponsored by

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:0.179 0.235s - 179pq - 2rq
Subscribe Now