Serengeti Energy is pleased to announce the Financial Close with Investec, securing funding for a portfolio of hydro power projects in South Africa. This partnership marks a significant milestone in our ongoing commitment to delivering reliable, efficient, and sustainable renewable energy solutions to the region as well as attracting commercial funding.
Funding Overview:
Investec has acted as the mandated lead arranger, senior lender, and hedge provider, structuring a comprehensive funding package tailored specifically for Serengeti Energy. The financial support will enable:
- Refinancing and upgrading of the 3MW Sol Plaatje hydro power plant.
- Refinancing and upgrading of the 4MW Merino hydro power plant.
- Construction of the new 5MW Boston hydro power plant.
All three projects are located on the Ash River in the Free State and are backed by power purchase agreements (PPAs), allowing clean energy to be delivered efficiently through wheeling on the national electricity grid.
Strafford Harris, Chief Operating Officer of Serengeti Energy, emphasized the impact of this partnership:
“This financing arrangement showcases how innovative private sector financial solutions can support the long-term sustainability of hydro power in South Africa. By working closely with Investec, we have been able to optimize our portfolio, ensuring that these assets continue to generate clean energy efficiently and sustainably for years to come.”
Wilfred van den Bos, Chief Investment Officer of Serengeti Energy, added:
“The transaction with Investec demonstrates the strength of structured financing in the renewable energy sector. Achieving financial close on this portfolio highlights our commitment to scaling sustainable energy solutions across the continent.”
Serengeti Energy remains dedicated to expanding access to clean energy across sub-Saharan Africa, with a growing portfolio of renewable energy projects that support both economic development and environmental sustainability while attracting commercial investors.