FRENCH energy giant Électricité de France (EDF) is buying 50% of the South African operations of Distributed Power Africa (DPA), a unit of Econet’s Cassava Technologies.
The two companies say the transaction will help bring to life the 75MW of green energy projects that DPA has in the pipeline, which are mostly targeted at commercial & industrial customers in South Africa. The companies are seeing potential in that country’s worsening power shortages.
“South Africa is facing long hours of load shedding and increasing electricity costs. This partnership comes at an opportune time where the country is pushing for an updated renewable energy policy, and the world is facing a sudden rise in diesel costs,” according to Norman Moyo, CEO Africa of DPA.