Investment boost continues for SA's renewable sector
Revego Africa Energy Fund increases portfolio of renewable energy investments to nine operating projects
Revego Africa Energy Limited (Revego), Africa’s first YieldCo focused on
Revego Africa Energy Limited is Africa’s ﬁrst YieldCo focused on operating renewable energy projects in sub-Saharan Africa
600 million people live without electricity in Sub-Saharan Africa
Revego is the sole limited partner that invests in one of the ﬁrst equity funds to target the Sub-Saharan African renewable energy-focused sector. It is therefore well positioned to capitalise on sub-Saharan Africa’s (SSA) need to make major investments in the electricity sector required over the next 25 years.
BEE Investment Vehicle
Current Fund Size of
The current size of the Revego Fund is ZAR2 billion, with Investec Bank Limited, UK Climate Investments (UKCI) and Eskom Pension and Provident Fund (EPPF) as cornerstone investors.
Why invest with Revego?
Focused on the electricity sector in Sub-Saharan Africa where there is a proven need for investment:
The current fund size of R2.0 bn, makes it a significant investor in the renewable energy sector in Sub-Saharan Africa.
Returns are projected to be defensive in nature, stable and tax efficient providing a high yield return profile comparable to being in between government bonds and listed property stocks.
The Revego Fund invests in operating renewable energy assets in the private market.
As an open-ended fund, the Revego Fund is constantly raising equity capital for additional investment as and when opportunities are identified, thereby avoiding any drag on cash.
The fund manager will be majority black-owned with an effective Black ownership.
Investec Bank Limited, UK Climate Investments (UKCI) and Eskom Pension and Provident Fund (EPPF) are cornerstone investors into the Revego Fund.
Our Experience Renewable Energy Team
The Revego Board consists of members with deep industry and corporate knowledge. The Board brings together a unique balance of experience in the renewable energy sector, in Africa and globally, along with fund management expertise and a significant commercial, legal and industrial track record in Africa. The Board members’ experience in the sector should ensure that Revego is the leading voice in renewable energy investment in Africa.
Dr Reuel Khoza
Dr Khoza is the President of the Institute of Directors South Africa and a distinguished leader and change agent at the forefront of transformation in the South African political economy. Dr Khoza is currently Chairman of Dzana Investments (Pty) Ltd, the Public Investment Corporation (PIC) and Assupol Insurance Group among others. He has chaired the boards of Eskom Holdings, Nedbank Group, Globeleq, GlaxoSmithKline South Africa. He also served as a director of JSE Limited, Old Mutual Plc, IBM South Africa, Liberty Life Group, Sasol Oil, Nampak Limited and the Standard Bank Group.
Chief Executive Officer
Reyburn is a joint controlling shareholder and manager of H1. Prior to this, he was a founding member of HJS Advisory Services (Pty) Ltd (subsequently acquired by Hosken Consolidated Investments) and was also a founding director of African Harvest Capital (now called Vunani Ltd), in its investment banking division. Reyburn also worked as an equity analyst and portfolio manager at Southern Asset Management.
Ipeleng is the co-founder and CEO of Motseng Investment Holdings (MIH), a diversified investment holdings group. A pioneering entrepreneur, she established the first black women owned CCTV business and subsequently founded MIH. She was a promoter of Delta Property Fund, a leading black managed property loan stock company. Ipeleng serves as the Chairperson of MPAMOT. She has served on various boards of unlisted and listed businesses, public sector agencies and non-profit organisations.
Laverne is a consultant at Investec Bank Limited (Investec), with a focus on fund finance debt solutions for private equity, infrastructure and real estate funds that invest in Emerging Markets. Laverne is a qualified Chartered Accountant (SA) and Chartered Financial Analyst. Prior to focusing on fund finance, Laverne obtained significant experience in leverage finance and corporate finance. His transactional experience includes senior debt, mezzanine debt, leveraged buyouts, management buyouts, equity investments, M&A and equity capital markets.
Richard is Managing Director of UK Climate Investments (UKCI). UKCI sits within the Green Investment Group, which since 2017 has been part of the Macquarie Group. UKCI is a partnership between the UK Government and Macquarie Infrastructure and Real Assets (MIRA) to invest £200m of UK climate finance funds in transformational green energy projects in sub-Saharan Africa and India. MIRA is Macquarie’s specialist real asset fund management business and the largest infrastructure fund manager globally with over $100bn of assets under management. Richard’s career in MIRA has included global and pan-European COO roles and asset management and transaction activity. Before joining Macquarie, Richard was a UK Senior Civil Servant.
Ruse Moleshe is an Infrastructure Finance Specialist with 23 years of experience in energy and infrastructure across Sub Saharan Africa. She is a co-founder and managing director of RUBK (Pty) Ltd., an infrastructure advisory and consulting company. She has successfully completed work on the “regulatory review of the electricity market in South Africa towards crowding in private sector investment” as a lead national consultant with the United Nations Economic Commission for Africa. Ruse has held leadership positions in government, Development Finance Institutions, a commercial bank and an Engineering, Procurement and Construction (EPC) company. She was previously the Head of Industrial Infrastructure, at the Industrial Development Corporation, where she structured and financed transactions in the renewable energy, water, telecommunication and transport sectors. Ruse has served as a Non-Executive Director of a private sector entity.
Shamilah is a partner of Bowmans and Head of Bowmans’ Banking and Finance Department and was previously Head of Bowmans’ Infrastructure Sector. Mrs Grimwood acts for a full range of clients from developers to government utilities. Her transactional experience includes the structuring and negotiation of PPPs, concessions, privatizations and off-take arrangements.
About Revego Africa Energy Fund
The Revego Fund is a private equity fund and is structured as an en commandite partnership.
The Fund is a private equity fund and is structured as an en commandite partnership. The following parties are the primary role players in relation to the Fund: the Limited Partner (Revego Africa Energy Limited), the General Partner, the Fund Manager (Revego Fund Managers), the Investment Committee and the Advisory Board.
Target Fund Size
Target region and sectors
Generation, transmission and distribution projects
Revego Fund Managers
The Revego Fund is managed by Revego Fund Managers (RFM), with a mandate to invest equity into the renewable energy sector in sub-Saharan Africa
RFM will be responsible for sourcing and managing Revego’s investments in operating renewable energy
projects in South Africa, and the broader SSA. The Revego Fund appointed RFM as its fund manager in
September 2019. RFM has an effective Black ownership of 63.42%. In addition to an experienced management team, RFM has an
independent investment committee consisting of industry experts and experienced investment officers.
If you are a shareholder of an operational renewable energy company who is looking for a fund to buy your investment or invest alongside you, Revego may
be able to provide you with this opportunity.