South African energy company raises R3 billion for renewable power projects

raised $160 million in funding from management and investment partners to help the business expand across the region.

“While the bulk of Red Rocket’s pipeline is in South Africa, the firm also plans to expand into other markets, mostly southern Africa,” chief executive officer Matteo Brambilla said in an interview. South Africa’s Eskom Holdings SOC Ltd. is struggling to meet electricity demand, resulting in record outages that crimp the economy.

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