- Revego Africa Energy Limited has secured £15m in climate investment
UK Climate Investments has pledged £15m of follow-on funding to support Revego Africa Energy Limited expand its portfolio of operational renewables capacity in South Africa.
In collaboration with Investec Bank, Eskom Pension and Provident Fund, UK Climate Investments made an initial commitment of £25m earlier this year to establish Africa’s first dedicated renewable energy Yieldco, managed by Revego Fund Managers.
Revego acquires equity in operational renewable energy plants across South Africa, helping developers unlock and subsequently recycle capital into new electricity generation and capacity projects whilst providing a green asset class for institutional investors.
The company’s initial portfolio contains stakes in six projects across South Africa, representing a combined installed capacity of 605MW.
With this additional funding and sustained backing from UK Climate Investments, Revego’s portfolio is expected to grow at pace over the coming 12-18 months as it pursues an “attractive pipeline” of investment opportunities across the region.