Africa's Biggest Fund Manager to Grow Green Energy Book Beyond $854 Million
- Country faces energy shortages due to ailing coal power plants
- Africa’s top asset manager to invest more in solar, wind power
The firm currently has investments in renewable energy that have contributed more than 2,000 megawatts to the grid through photo-voltaic, concentrated solar power and wind technology.
Photographer: Michele Spatari/BloombergThis article is for subscribers only.
The Public Investment Corp. intends to increase its investment in renewable energy as South Africa battles to resolve a power crisis that’s stifling economic growth.
“If you look at our renewable energy book, we have now funded and have got an exposure of 16.5 billion rand ($854 million) — and it is going to grow,” Kabelo Rikhotso, chief investment officer at the PIC said on Tuesday.