Econet, RBH to develop 175 MW of solar in Africa - report

South Africa-based telecommunications group Econet and African community investment company Royal Bafokeng Holdings (RBH) have teamed up to create up to 175 MW of solar energy capacity in selected countries across Africa, local media report, citing a statement.

RBH, which is owned by the Royal Bafokeng Nation Development Trust, will provide up to USD 20 million (EUR 17.1m). The funding will buttress the commercial and industrial solar projects of Distributed Power Africa (DPA), a subsidiary of Econet, in South Africa, Kenya, Democratic Republic of the Congo and Zambia.

According to ITWeb, RBH will invest in a new company, DPA Africa Asset-Co, where it will hold a stake of 60% alongside Econet Energy Ltd.

DPA Africa's chief executive Norman Moyo was cited as saying that the company wants to make it easier for businesses to deploy solar by reducing the burden of upfront investment and providing customers with power lease contracts of up to 15 years.

RBH chief executive Albertina Kekana highlighted the importance of energy for the growth of sustainable data centres, which are now a major investment focus in the company's portfolio.

(USD 1 = EUR 0.856)

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