RMB acquires 25% stake in South African electricity trading platform
First Rand’s Rand Merchant Bank (RMB) has acquired a 25% stake in Remgro’s Ubiquity Energy platform, the holding company of Energy Exchange, which is an electricity trader licensed by the National Energy Regulator of South Africa.
The value of the acquisition has not been disclosed.
The transaction, the companies said in a joint statement, was supportive of investments in South Africa’s private power market and of unlocking South Africa’s renewable-energy resources.
RMB infrastructure sector solutions transactor Sindisiwe Mosoeu reported that Energy Exchange, as a large-scale purchaser of electricity, could connect corporates with privately produced renewable electricity to meet their decarbonisation goals.
Through the platform, corporate buyers could secure a blend of energy sources such as wind, solar, biomass and hydro rather than relying on a single source.
Remgro strategic investments executive Pieter Uys added that Energy Exchange offered the benefit of aggregation, allowing multiple customers to access scale benefits in procuring energy.
“In turn, large power generators are able to negotiate with a single centralised electricity buyer,” Uys said, adding that electricity tariffs charged by Energy Exchange were competitive and would escalate at the rate of inflation.
RMB principal investments transactor Philip de Villiers said the bank’s acquisition would support the generation and provision of sustainable privately produced power, which he described as “critical to solving our energy challenges”.
“The South African market requires a material shift in the way electricity is produced, sold, and consumed and will need bold thinking and innovative solutions,” De Villiers added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
