AFRICAN Rainbow Energy and Power (AREP), backed by South African billionaire Patrice Motsepe, is looking to boost renewable power generation sevenfold to become one of the biggest clean electricity providers on the continent.
The Johannesburg-based company ultimately has a target of adding as much as 5 000 MW of assets. It’s invested in more than 700 MW already and looking with partners at an additional 2 000 MW by the end of the second quarter next year.
A rule change that allows generators to set up projects of as much as 100 MW without seeking a license has provided a recent boost for AREP.
“We’ve always thought we should build up scale” and create a significant energy company, said AREP CEO Brian Dames. That’s meant involvement in projects realized through South African government auctions to buy power as well as generation for commercial use. The company also plans to have
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