The Central Energy Fund (CEF) will invest R1 billion into the country’s Virginia gas project as part of a renewable energy push.
The Virginia Gas Project is the only onshore petroleum plant in South Africa, with the site covering an area that includes Welkom, Virginia, and Theunissen. It is owned and operated by Renergen through its subsidiary company Tetra4.
“Renergen and the CEF’s relationship goes back many years. Importantly, during this time Renergen has successfully grown Virginia in a size and scale, highlighted by the growth both of our helium and methane reserves, which have finally reached the critical mass to enjoy CEF’s involvement,” said chief executive Stefano Marani.
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