Metier invests in South African renewable energy business
Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into South Africa-based Broadreach Energy.
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Private equity firm Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into South Africa based Broadreach Energy in a landmark renewable energy sector transaction.
The transaction is centred around Broadreach Energy’s existing commercial, industrial and small-utility scale renewable energy portfolio and operations, and provides a pipeline to invest around $25 million in renewable energy, energy efficiency and related projects across sub-Saharan Africa.
Broadreach Energy was founded in 2014 by a group of like-minded individuals, with a vision to be the bridge between the technical and financial worlds of renewable energy. Broadreach Energy specialises in building, operating and maintaining clean energy generation and energy efficiency projects for its clients throughout sub-Saharan Africa, ranging from stand-alone solar photovoltaic (PV) plants in Namibia and Rwanda to rooftop installations throughout South Africa. Broadreach was one of the pioneers of power purchase agreements (PPAs) in the commercial and industrial (C&I) solar PV sector in South Africa and has developed, advised on and invested in projects totalling over 30MW.
The transaction with Metier enables Broadreach Energy to pursue, build and scale its renewable energy strategy in the C&I and small utility-scale sectors.