According to a Sens announcement released on Monday the Central Energy Fund is to invest R1 billion into domestic natural gas and helium producer Renergen’s Virginia Gas Project. The Central Energy Fund, whose investment mandate focuses on contributing to local energy security, will also gain a 10% stake in Renergen’s subsidiary Tetra4, a division which wholly owns the project in the Free State.
Commenting on the agreement between the two parties, CEO of Renergen, Stefano Marani says: “I, along with the Renergen board and management team look forward to building on the strong strategic partnership with CEF as we embark on Phase 1 operations in April and establishing Virginia as a significant domestic and global gas producer.
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