Rand Merchant Bank (RMB) buys a 25% shareholding in Remgro’s Ubiquity Energy Platform.
Rand Merchant Bank has acquired a 25% shareholding in Remgro’s Ubiquity Energy Platform, a strategic energy-focused investment vehicle.Both RMB and Remgro said that they are committed to investing in the private power market to unlock South Africa’s natural renewable resource potential.
“As a large-scale purchaser of electricity from generators of power, Energy Exchange is a key enabler in the private power landscape, connecting South African corporates to privately produced, renewable energy,” said Sindisiwe Mosoeu from RMB. Energy Exchange will also allow corporates to tailor their energy profile by blending different sources of electricity – including wind, solar, biomass and hydro. A blended approach can match a consumer’s needs far more accurately than a single source of electricity.
“South Africa already has both the natural resources and the capability to address our current energy constraints.”
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