South African IPP Red Rocket raises US$160 million

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  • South African IPP, Red Rocket, has raised US$160 million from a group of funders which include Inspired Evolution, Bill Kilgore Investments, Dutch entrepreneurial development bank FMO and STOA energy.

Located in Cape Town, Red Rocket provides integrated solutions, from design and development to energy production, operation and maintenance, and asset management in South Africa and beyond. The company was awarded preferred bidder status in South Africa’s Renewable Energy Independent Power Producers’ Programme (REIPPPP) Bid Window 5, for three wind farms totalling 364MW. Read more 

Matteo Brambilla, CEO of Red Rocket, called the deal was a “pivotal moment” for the energy industry.

“This transformative alliance signifies a pivotal moment in the energy industry. It not only reaffirms Red Rocket’s dedication to advancing clean energy solutions but also positions the company as an influential force on the African continent, poised for sustainable, prosperous, and impactful future endeavours,” Brambilla said.

Michael Jongeneel, CEO of the Dutch bank said: “We are delighted to continue our partnership with Red Rocket and support the development of clean energy projects across the African continent. Red Rocket’s mission to harness the power of nature’s technologies – sun, water, wind, and earth – aligns with our vision to create a greener, more inclusive, and resilient world.”

Author: Bryan Groenendaal


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