British International Investment (BII) and Alexforbes Investments have jointly committed R1 billion to the Revego Africa Energy Fund, with each institution investing R500 million. This landmark investment represents a significant step in developing South Africa’s secondary market for renewable energy assets, an area seen as critical for unlocking capital and supporting the country’s long-term energy transition.
The investment will enable the expansion of Revego’s portfolio of operational renewable energy projects and help establish a more liquid and accessible secondary market. By facilitating the transfer of ownership from early-stage developers to long-term investors, the fund creates opportunities for recycled capital to flow into new greenfield renewable energy developments, strengthening the overall renewable energy ecosystem.
Strengthening this emerging asset class is viewed as essential for mobilising institutional capital and closing funding gaps in South Africa’s energy sector. A functioning secondary market improves investor confidence, reduces risk and supports the scaling up of renewable infrastructure needed to meet growing energy demand and decarbonisation goals.
BII’s participation aligns with the United Kingdom’s support for South Africa’s Just Energy Transition Partnership, focusing on sustainable infrastructure and inclusive economic growth. The investment also reflects BII’s broader commitment to gender equality through the 2X Challenge and to supporting black-owned and black-led businesses across Africa.
Alexforbes has highlighted that the investment builds on its long-standing experience in private markets and infrastructure financing. The firm views its participation as a strategic extension of its efforts to deliver both competitive financial returns and measurable socio-economic impact, while supporting transformation and sustainable growth in South Africa.
Revego has described the transaction as a pivotal milestone for South Africa’s climate infrastructure landscape. The investment is expected to help de-risk renewable energy projects, deepen a historically underdeveloped secondary market and demonstrate the strong potential of infrastructure-linked, inflation-protected returns, signalling new opportunities for investors in the country’s green economy.
