Cape Town - British High Commissioner to South Africa Nigel Casey on Wednesday night launched an investment partnership worth £30million (R577m) between Revego Africa Energy alongside Investec to create Africa’s first dedicated renewable energy yield co to be launched on the JSE later this year.
A yield co is a company formed to own operating assets that produce a predictable cash flow, primarily through long term contracts.
This investment is in addition to £14m (R269m) already invested, backing greater BEE involvement in clean energy.
At the same time, Virgin Atlantic announced the reintroduction of Cape Town to London Heathrow flights, with the seasonal service taking to the skies from October. The route will be adding more than 80000 seats between Cape Town and London.
The announcement was made by Virgin Atlantic head of Middle East, Africa and India, Liezl Gericke.