Johannesburg, South Africa, 14 April 2023: Rhino Energy Solutions (“Rhino Energy”) today announced the investment by Infra Impact Investment Management on behalf of certain of its clients. Infra Impact acquired a significant minority interest in Rhino Energy, a vertically integrated commercial and industrial solar PV EPC & PPA company in Southern Africa, as part of its commitment to promoting clean energy and mitigating the impact of loadshedding on businesses across the country.
Rhino Energy was founded in 2007 and is an established leader and pioneer within the South African commercial and industrial energy sector with a focus on competitive clean energy solutions, including grid-tied and hybrid solar systems. Rhino Energy develops, constructs, operates, maintains, and owns solar plants for its clients. Rhino Energy has completed numerous projects across South Africa. The company owns a portfolio of solar energy plants that provides electricity to clients through Power Purchase Agreements, via its subsidiary company, HyperionRE.
Mark van Wyk, founder and co-managing partner of Infra Impact said, “We are very pleased to invest in Rhino Energy, one of South Africa’s leading commercial and industrial solar developers and owners. Rhino Energy not only brings the experience of having commissioned numerous plants and sizeable energy portfolio, but a first-class management and development team with an immediate pipeline of sizeable Solar projects.” Furthermore, van Wyk said, “We are excited to invest in Rhino Energy, on behalf of our clients. The investment will assist in boosting Rhino Energy’s presence in the fast-growing global market, bringing the benefits of cost-effective clean energy to hundreds of businesses, reduce the devastating impacts of loadshedding and supporting South Africa’s transition to a lower-carbon economy.”
Rogan Davies, Chief Executive Officer of Rhino Energy, said “With the capital and expertise of Infra Impact, Rhino Energy will be able to unleash significant growth over the medium term. We are looking forward to the partnership and we are confident that it positions us to continue to grow, develop and maximize the platform that we have created, thereby allowing us to continue our journey of providing, “Solar. Energy. Excellence” to our clients across Southern Africa”.
Loadshedding has been a recurring challenge for South Africa in recent years due to the country’s reliance on fossil fuel-based power generation. This has had a significant impact on businesses and the economy, with many companies experiencing disruptions to their operations and a loss of productivity.
With this investment, Infra Impact is taking a proactive approach to addressing the challenges posed by loadshedding and promoting sustainable infrastructure in South Africa. Through the investment in Rhino Energy, the fund is supporting the growth of a leading player in the commercial and industrial solar PV market and helping to accelerate the adoption of renewable energy solutions across South Africa.
Rhino Energy Solutions was founded in 2007 with the objective of creating a long- term position within the
Renewable Energy sector in Africa. This vision was espoused prior to the energy crisis that currently exists in
Southern Africa and other African States. Rhino Energy Solutions has a proud history of building and maintaining Solar plants across SA for several of South Africa’s largest Commercial and Industrial companies. Since K4 Energy (Pty) Ltd acquired a stake in the business, Rhino Energy Solutions has achieved a Level 2 BBBEE rating, with 60,36% Black ownership and 45.14% Black Woman ownership.
As a result of Rhino Energy Solutions evolving strategy to not just build and maintain solar plants but also to own renewable energy plants, HyperionRE was established in 2019 with the aim of developing and owning solar plants via long-term corporate power purchase agreements (PPA’s). Currently the group owns and manages several Solar PPA plants across SA and is expanding quickly into this fast-growing market.
CONTACT RHINO ENERGY AT:
Rogan Davies, CEO
ABOUT INFRA IMPACT
Infra Impact Investment Managers Proprietary Limited (“Infra Impact”) is a specialised infrastructure and impact investment management business, based in Cape Town, South Africa. Infra Impact manages the Infra Impact Mid-Market Infrastructure Fund 1, a dedicated, closed-ended third party investment fund that makes equity and mezzanine investments primarily in the water, waste, green energy, telecommunications infrastructure, and related sectors. Infra Impact Investment Managers Proprietary Limited is an authorised Financial Services Provider (FSP872).
CONTACT INFRA IMPACT AT:
Mark van Wyk, Co-Managing Partner
Morné Edas, Co-Managing Partner