To help the business expand across the region.
South African renewable energy developer Red Rocket raised $160 million in funding from management and investment partners to help the business expand across the region. The Cape Town-based company has built hydro, solar and wind projects. It reached financial close on 364 megawatts of wind turbines in February.
“The new investment partners will assist Red Rocket in building out utility-scale power projects on the continent.” ADVERTISEMENT CONTINUE READING BELOW South Africa’s Eskom is struggling to meet electricity demand, resulting in record outages that crimp the economy. The government has turned to independent power producers to help build capacity in order to stabilise the power grid, though the program has faced delays.
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