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Red Rocket on a mission to answer businesses' call for more energy

30th November 2023

     

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Revolutionary Independent Power Producer (IPP) Red Rocket is once again thrusting its engines, this time to launch its newest venture that aims to provide affordable, renewable electricity to be purchased directly by businesses. 

The impact of South Africa’s power crisis has been felt throughout our country, in every major sector of the economy, and has made itself at home in the minds of citizens and organisations alike. From education, health and business, to other sectors, the country has been united in the same impassioned call – “bring in more energy”. 

In the backdrop of the shortage of such a vital resource, many business hours and revenue have been lost, and the need for innovative measures to alleviate the situation cannot be overstated. As an IPP on a mission to solve the country’s energy shortage puzzle, for the last decade Red Rocket has been committed to its bold mission of supplying the country with electricity from its renewable energy sources, thereby answering the call for added electricity generation capacity.

The latest project is the culmination of many years of operating in the South African electricity sector, initially as Building Energy’s Africa and Middle East expansion, and since 2020 as Red Rocket, spearheaded by CEO Matteo Brambilla.

With this operation expected to be in full swing from 2026, South African businesses can look forward to extra generation capacity and the ability to buy renewable electricity, wheeled directly from the generating facility.

“With the regulatory framework evolving rapidly, we are trying to stay close to the market and find innovative ways to meet the demand for electricity. From this perspective, this offering aims to find willing customers to purchase renewable energy from us at a competitive price,” Brambilla says.

Red Rocket has established itself as a major contributor in the renewable energy industry, going from strength to strength to provide power to thousands of households and businesses in South Africa and on the rest of the continent. In 2021/2022, the company more than doubled the megawatts it supplies the national grid, to an impressive 242 MW through its projects, with another 373 MW of wind projects currently under construction and a further 1 337 MW wind and solar projects moving towards construction in the next year.

Currently, Kathu Solar 81 MWp photovoltaic (PV) facility and Tororo Solar North 10 MWp solar plant - the company’s solar power projects - generate a combined capacity of about 190 GWh a year. Since operation started in 2014, Kathu Solar PV facility produced 1 559 GWh of solar energy using polycrystalline mono facial PV modules with single axis hydraulic tracking system. The facility is situated near Kathu, in the Northern Cape. Tororo Solar North 10 MWp solar plant, situated in eastern Uganda, has produced 97.21 GWh of energy since operation started in September 2017.

Roggeveld wind farm is the company’s wind project between the Western Cape and Northern Cape. It is located near the towns of Laingsburg, Matjiesfontein and Sutherland, and generates about 613 GWh a year, which meets the electricity needs of about 49 200 households every year. Red Rocket also owns and fully operates a hydroelectric power plant, Kruisvallei Hydro, in the Free State.

The current phase in the company’s growth is the construction of a renewable energy facility of up to 2 000 MW from which businesses can purchase electricity and have the flexibility to choose the amount of power required to meet their business needs. The electricity on offer to businesses from 2026 is expected to come from wind and solar facilities which are constructed specifically for this purpose.

Operating in the renewable energy space, Red Rocket is firmly rooted in the proactive implementation of its sustainability values and constantly puts great consideration into the impact of its operations. Numerous initiatives including the Sustainable Development Goals underpin its mission, and ensure that it approaches its projects in a manner that leaves communities empowered, always guided by a set of principles that set its sustainability benchmarks. All its projects are designed, developed and operated in compliance with Equator Principles, International Finance Corporation Performance Standards and Good International Industry practices.

 “At Red Rocket, we firmly believe that sustainable investing is not only the right thing to do but also an essential component of long-term value creation,” says Red Rocket head of sustainable investments Maggie Logan.

“We recognise that our investment decisions have far-reaching implications for the environment, society and the overall well-being of our stakeholders.”

Charging ahead with its philosophy, the company is on a steady growth path in its ambitious plan to harness the power of nature’s technologies. Now, with a 196-strong team, the mission is not only to go bigger and better in terms of the size and magnitude of each project, but in the promise to build a better future for all.

* For more information about how businesses can buy their share of 2 000 MW of affordable, renewable electricity, email givemepower@redrocket.energy or visit www.redrocket.energy

Terms and conditions apply.

Edited by Creamer Media Reporter

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