UKCI & Norfund invest in H1 Holdings joint venture

The UKCI and Norfund have invested in a joint venture between H1 Holdings and Pele Green Energy to fund their 40% equity participation in a 700 MW portfolio of four wind farms. The wind farms are part of Round 4 of the REIPPP and are in operation. The UKCI and Norfund have invested alongside Enel Green Power in one of South Africa’s largest renewable energy equity deals valued at around $US100 million. H1 looks forward to working with the UKCI and Norfund, as well as fellow shareholders, Enel Green Power and Pele Green Energy, in contributing to South Africa’s commitments to a lower-carbon energy system. H1 Holdings is proud to be a part of the rapidly developing climate financing and partnership between Development Finance Institutions and the private sector promoted through the Climate Finance Leadership Initiative (CFLI). The Macquarie Green Investment Group innovative funding mechanism was developed in close consultation with H1 Holdings and is designed to support Black Economic Empowerment renewable energy entities in South Africa. The investment is part of a £200 million pilot programme mandated to invest in sub-Saharan Africa and India. Read the full Macquarie release here.