RBH wins bid in DoE's Independent Power Producers Procurement Programme
- Published: Monday, 10 October 2016 13:11
RBH is pleased to announce the success of RBH's bid in the Department of Energy's Independent Power Producers Procurement Programme. RBH, through the Thabametsi project, has partnered with Marubeni and Kepco to deliver on the much needed baseload capacity in South Africa. RBH is a 15% shareholder in the project.
The announcement of the successful bidders was was made by the Minister of Energy Ms Tina Joemat–Pettersson this morning in Cape Town. The minister lauded the Thabametsi project and highlighted that the both Thabametsi and Khanyisa will collectively add 863.3MW to the country's grid. Working closely with the Department of Energy, the project will form part of South Africa’s energy build plan and is set to add much needed capacity to our national grid, unlock investment in infrastructure and stimulate local procurement.
For RBH, this project is an important part of our journey towards portfolio diversification. The investment forms part of RBH’s goal to seek long term investment opportunities and build portfolio resilience by increasing exposure to non-cyclical assets.