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ICT player Pinnacle snaps up majority stake in PV business

8th December 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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To secure another pillar of business in a rapidly growing market, South Africa’s largest information and communication technology (ICT) products and services distributor, Pinnacle Holdings, has acquired a majority stake in solar power solutions company and solar photovoltaic (PV) specialist Solareff.

“The supply of renewable-energy products – and specifically PV products and solutions – has potential that cannot be ignored and the market is growing at a phenomenal rate.

“The specialist engineering skills required will result in higher-margin business for the company and substantial ongoing growth for our partners and stakeholders . . . [and we] plan to integrate the solar PV product into our existing product range,” commented Pinnacle Holdings joint-CEO Arnold Fourie.

Solareff had completed several turnkey rooftop and ground solar projects in Southern Africa ranging from 20 kW to 5 MW installations.

The company partnered with Tier-1 technology partners and was managed and supported by a team of engineers.
 
“With Pinnacle’s vast footprint in Southern Africa, as well as a reputation for quality solutions, it is ideally placed to assist Solareff in expanding its business further across the region,” Fourie added.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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