Renewable-energy company Distributed Power Africa (DPA) has announced that Royal Bafokeng Holdings (RBH) will invest $20-million in a newly formed asset company to expand DPA’s solar energy portfolio in four key markets.
RBH is a long-term African community investment holding company with a legacy of partnering with leading organisations to achieve broad-based transformation.
RBH will hold a 60% equity stake in the asset company, alongside Econet Energy.
The investment funding will boost DPA’s commercial and industrial solar projects in South Africa, Kenya, the Democratic Republic of Congo and Zambia.
This bodes well for the South African portfolio, considering the additional solar capacity that has been earmarked for procurement, in line with the Integrated Resource Plan 2019.
Lease AgreementsThrough this facility, DPA intends to unlock more distributed-energy solutions based on power lease agreements for photovoltaic panels and energy storage systems to customers in the sector.
For RBH, the investment is a step in its journey towards portfolio diversification and provides a long-term investment opportunity in making affordable, efficient energy more accessible to businesses so that they can, in turn, empower communities.