Absa will make an initial investment of R500m in cash and transfer R5bn of its existing renewable energy assets to African Rainbow Energy
Patrice Motsepe’s African Rainbow Energy and Power and Absa have joined forces to create a South African independent energy behemoth with R6.5bn in assets.
Announced on Friday, the billionaire’s AREP, an African clean energy solutions company, and the big-four bank launched African Rainbow Energy — “an African-led, world-class, renewable energy investment platform”...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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