- African Rainbow Energy has increased its stake in SOLA Group from 41% to 83%.
- The transaction gives ARE control of a renewable energy portfolio valued at more than R20 billion.
- The deal strengthens ARE’s position in South Africa’s fast growing clean energy market.
ARE, chaired by Patrice Motsepe, has officially acquired majority control of SOLA Group, increasing its shareholding from 41% to 83%.
The acquisition gives ARE dominant oversight of one of South Africa’s largest independent renewable energy companies and a clean energy portfolio valued at more than R20 billion, equivalent to approximately US$1.2 billion.
The transaction marks a significant step in AREP’s strategy to expand its footprint in Africa’s renewable energy sector as demand for reliable and sustainable electricity continues to rise across the continent.
SOLA Group has established itself as a major player in the commercial and industrial solar market, developing large scale renewable energy projects aimed at supporting energy security and reducing dependence on conventional power generation.
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“This milestone reflects the scale of what has been built over the past five years through our partnership, and positions us to expand our impact even further, delivering innovative renewable energy, energy wheeling and battery storage solutions to South African businesses at greater scale. The transaction increases ARE’s stake from 41% to 83%, creating one of the country’s largest independently owned clean energy platforms,”– SOLA Group.
By increasing its controlling stake, ARE is expected to accelerate investment in solar infrastructure and strengthen its role in supporting South Africa’s energy transition agenda.
The deal also reinforces growing investor confidence in Africa’s renewable energy sector, particularly in utility scale and embedded generation projects that are helping businesses secure stable and cleaner electricity supply.
Author: Bryan Groenendaal
GoodWe has an extensive distribution network across the African continent.
For enquires email: sales.africa@goodwe.com
