South Africa (SA)-based asset management company Investec and UK Climate Investments have announced a commitment to an investment fund, Revego Africa Energy Ltd.
Investec and UK Climate Investments, a joint venture between UK-based investment firm Green Investment Group and the government, have committed 1 billion rands ($72.5 million) to Revego Africa.
With the investments, Revego will acquire equity in operational renewable energy projects in sub-Saharan Africa and speed up the installation of new low-carbon energy generation.
Further, Revego also plans to seek a listing on the Johannesburg Stock Exchange in the first half of 2019.