South African Telecommunications Group Wants To Deploy 175 MW Of PV In Africa

South African Telecommunications Group Wants To Deploy 175 MW Of PV In Africa

Econet wants to build commercial and industrial PV systems across its homeland, Kenya, Zambia and the Democratic Republic of Congo. South Africa-based investment firm Royal Bafokeng Holdings (RBH) has made a $20 million equity investment in these projects.

Distributed Power Africa (DPA), a unit of South African telecommunications group Econet, has announced that South Africa-based investment firm Royal Bafokeng Holdings (RBH) has made a $20 million equity investment in newly formed joint venture DPA Africa Asset-Co.

Under the terms of the agreement, RBH will own 60% of the company while Econet’s unit Econet Energy Limited will hold the remaining share. The aim of the investment is to provide financing to boost DPA’s commercial and industrial solar projects in four countries, including South Africa, Kenya, Democratic Republic of Congo and Zambia, for a total of 175 MW over the next four years.

DPA Africa Asset-Co will provide its clients with solar energy solutions based on lease contracts for photovoltaic solar panels and electricity storage systems. The financial model chosen, according to the company, makes it possible to offer a turnkey solution that integrates financing, operation and maintenance of the facilities.

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