Patrice Motsepe Backs Growth Of World-Class African Energy Company Through New Deal

The company will remain 100% South African-owned and will accelerate its efforts to support the decarbonisation of the country’s electricity sector.

African energy company

“Our partnership with the Sola Group over the past five years has seen the company grow significantly by delivering clean energy solutions to large South African corporates.

“This acquisition, together with the additional investment, supports our vision of building a large-scale energy company that uses modern technology to provide affordable, clean energy to our clients,” said Brian Dames, CEO of African Rainbow Energy.

ARE chairperson, Dr Patrice Motsepe, said: “This acquisition positions African Rainbow Energy as one of the largest and most competitive, independently owned energy businesses in South Africa that provides affordable electricity and contributes to the economic growth of the countries in which we operate, as well as delivering competitive returns to its investors.

“This transaction also advances our objective of building African Rainbow Energy into a world-class African energy company.”

Despite the existence of a state-led renewables procurement programme, Sola Group has focused on selling power to private companies through on-site projects or via Eskom’s wheeling programme, which allows energy to be supplied to corporates from a distance.

“Sola has focused on the journey of the corporate consumer, mapping their least cost pathways to net zero carbon.

“This requires an in-depth understanding of complex technology options, regulatory pressures, and decentralised generation and storage – all expertise that sits within Sola's DNA.

“We look forward to multiplying our effect on the market as a result of this transaction,” said Sola group director, Dom Wills.

New roles

As part of the transition, Simon Haw, Chris Haw and Dom Chennells will remain actively involved in the business while stepping back from their executive roles.

They will assume positions as non-executive directors on the Sola Group board, while continuing to retain shareholdings in the company.

“Our commitment to Sola remains consistent with our continued shareholding and board roles.

“We remain focused on creating a mechanism that allows our hardworking and talented people to advance into leadership roles, ensuring the long-term sustainability of the business, and we believe this step accelerates that process,” says Simon Haw.

Dom Wills has been appointed group CEO, a role he previously held from 2017 to 2024.

His return provides continuity of leadership and deep institutional knowledge as the business enters its next phase of growth.

The broader management team remains unchanged and fully committed to the business, providing continuity and ensuring reliable service delivery for clients, partners and project counterparties.