South Africa: Third Way, Mahlako and Mergence in solar energy deal

South Africa’s Aventro has received investment from Third Way Investment Partners, Mahlako Energy Fund and Mergence Investment Managers to increase its shares in the 100MW Redstone Concentrated Solar Power Project.

The project, located in the Northern Cape, aims to generate clean energy for up to 200,000 homes and will have low electrical tariffs thanks to recent improvements in solar technologies.

Aventro is a local shareholder and technical partner involved in the project, which is expected to be completed in 2023 and have an operational life of over 30 years.

Third Way’s fund of fund model provides access to diversified exposure to this growing asset class for domestic retirement funds.