British High Commissioner to South Africa, HE Mr Nigel Casey, hosted a reception on the eve of the opening of the South African Parliament to celebrate the UK-South Africa relationship. Picture: David Ritchie/African News Agency(ANA)

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.

Casey said: “We recognise the particular challenges South Africa faces, and the need for a just transition.

“But without higher ambition from all countries, including South Africa, the 2°C global temperature rise target agreed in Paris will increasingly be out of reach. We’re already helping clean technology in South Africa and are keen to support South Africa set out higher climate mitigation ambition.

“We also need to work to support ambition around adaptation, recognising the impact climate change is already having in Africa.”

This year’s event will underlined the seriousness of the shared threat faced from global climate change, and the importance of countries coming to Glasgow ready to raise their collective global ambitions to mitigate future devastating impacts. Picture: David Ritchie/African News Agency(ANA)
Pictured is Mr Nigel Casey and Ms Liezl Gericke, Virgin Atlantic Head of Middle East, Africa and India. Picture: David Ritchie/African News Agency(ANA)
Pictured is Siya Kolisi and Graeme Smith who were among the guests at the reception hosted on the eve of the opening of the South African Parliament to celebrate the UK-South Africa relationship. Picture: David Ritchie/African News Agency(ANA)

The launch is in advance of the 2020 UN Climate Change Conference, known as COP26, the 26th, scheduled to be held in Glasgow, Scotland, from November 9 to 19 under the presidency of the UK.

Casey also launched a new Chevening Africa Climate Change Fellowship. 

“The Fellowship will be a bespoke professional development course offered to influential mid-career climate change professionals,” he said.

The launch was at the annual Eve of Parliament event hosted at the High Commissioners residence in Bishops Court and attended by Ministers, Deputy Ministers, MECs and other politicians and officials and top business representatives.

At the event, the High Commissioner launched the UK in South Africa’s Road to COP26 campaign and announced a number of related activities in South Africa. Picture: David Ritchie/African News Agency(ANA)
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