South Africa: Red Rocket raises fresh investment from Inspired Evolution, STOA and FMO

Red Rocket, an independent power producer (IPP) headquartered in Cape Town, has received a fresh capital injection of $160 million from management shareholders vehicle, Bill Kilgore Investments, and an international consortium of clean energy investors, comprising funds managed by Inspired Evolution; STOA, an impact energy and infrastructure fund dedicated to emerging markets; and FMO, the Dutch entrepreneurial development bank.

Commenting on this partnership, Red Rocket CEO Matteo Brambilla said, “We are pleased to be partnering with Inspired Evolution and their Evolution II and III Funds, along with new partners FMO and STOA who bring sector expertise to augment our efforts in building Red Rocket into one of Africa’s premier long-hold utility scale IPP platforms.”

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