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.