To help Sedgeley Solar Energy Namibia (Sedgeley Energy) better capitalize on rooftop solar photovoltaic (PV) potential, private equity company RMB Corvest has invested in Sedgeley Energy.
The creative product, track record, and development potential of Sedgeley Energy; according to RMB Corvest CEO Brendan Wiebols, were important factors in the investment decision.
More than 400 individual solar PV systems have been built by Sedgeley Energy, which was six years ago and is the SolarSaver Group’s exclusive engineering, procurement, and construction supplier. These installations have taken place in Namibia, South Africa, and Botswana.
Michael Jacobs, senior investment manager at Pembani Remgro Infrastructure Fund (PRIF), a major stakeholder in SolarSaver; thinks RMB Corvest’s investment in the business is well-timed given PRIF’s strong market position and attention on environmental, social, and governance issues.
According to Tim Frankish, co-founder of Sedgeley Energy and SolarSaver, more Southern African companies may take advantage of SolarSaver’s “rent the sun” energy solutions; as regional utilities struggle with supply and maintenance issues.