|
DGAP-News: Emerging Energy Corp. AG
/ Key word(s): Investment
German private equity firm Emerging Energy Corp. acquires strategic stake in Africa focused SustainPower Group Frankfurt, 10th November 2020 --------------------------------------------------------------------- Emerging Energy Corp. AG ('EEC'), a German-based private equity firm focused on partnering with energy companies that are pursuing compelling opportunities in creating growth in the African energy sector, has acquired a strategic stake in Sustainable Power Generation (Pty) Ltd. ('SPG Group'), a South African clean energy company operating across Africa in its two divisions 'SustainPower' - () and 'SustainSolar' (). The Management of SPG Group welcomes EEC's entry. Through this strategic investment, EEC will increase its involvement in the burgeoning gas-to-power industry and in the rapidly growing off-grid solar sector in the dynamic energy markets of Sub-Saharan Africa. SustainPower and SustainSolar strive to become the leading African manufacturers of decentralized, and modular solutions for sustainable power generation from sustainable gaseous fuels i.e. biogas, landfill gas, natural gas and other clean and alternative energy sources such as solar PV. "We welcome EEC on board of Team Sustain and are excited to have this excellent international team of energy experts by our side to jointly explore new opportunities to bring more clean power to Africa", said Tobias Hobbach, founder and CEO of SPG Group. EEC sees significant synergies to its existing activities in the energy sector, for example, from the possible expansion of SPG activities into markets in which EEC is traditionally active. "SPG Group is a highly interesting investment because of its strong growth and wide regional presence in Africa. It is an ideal building block within a strong energy group in Sub-Saharan Africa. We are looking forward to working with Sustain's management team. We will continue investing in African projects in countries like Senegal, Nigeria, Mozambique, Kenya, Zambia and other nations with exciting projects" stated Karl Rheinberger, Managing Director of EEC. ++ About EEC Emerging Energy Corp. is an investment firm dedicated to creating growth in the African energy sector and related infrastructure. EEC aims to build local capacity, create well-paid jobs, finance Africa's energy transition, diversify economies and deliver market-leading returns to its investors. EEC focuses on investing across the entire African energy value chain. EEC partners with exceptional management teams, where the combination of capital and industry expertise can make a sustainable impact on the African continent. ++ About SustainPower Sustainable Power Generation offers high-quality, modular solutions for sustainable power generation, delivered and operated across Africa. SustainPower strives to become the leading African solution provider for sustainable power generation solutions from biogas, landfill gas, natural gas and LPG for continuous combined heat and power plants, as well as standby and peak-shaving applications. SustainSolar is a significant player in the rapidly growing African off-grid solar market for which it designs and manufactures containerized, modular, turn-key solar PV solutions for rural electrification, mini-grids, diesel hybrid and rapid deployment applications. With dedication to quality, passion for efficiency, and an urge to fulfil our responsibility to people and the planet, SPG Group strives to make a difference in the way developing economies generate power. Contact: Karl Rheinberger
10.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
1146958 10.11.2020
