Aggreko acquires RenEnergy in South Africa and the UK

Stellenbosch, 22 January 2024 – RenEnergy, a renewable energy company based in Stellenbosch, gets an international power boost.

Aggreko, a global leader in energy solutions, has acquired South African and UK based businesses of RenEnergy group (“RenEnergy”), a market leading business known for their innovative commercial and industrial solar energy generation and storage solutions.

RenEnergy Africa was founded by local entrepreneur and renewable energy enthusiast Claude Peters in 2012 and is based in Stellenbosch. The UK business was founded in 2006 by Damian Baker. The company has extensive experience and expertise in engineering renewable energy solutions, with particular experience and knowledge about innovative energy storage solutions, in response to South Africa’s unique energy challenges. RenEnergy is principally focused on the application of solar photovoltaics (PV) and energy storage, including solar carport and electric vehicle charging. The company consults on, designs and delivers innovative renewable solar PV solutions to clients around the world.

This strategic investment comes at a time when the drive for businesses, governments and individuals to transition to a greener, cleaner world has never been stronger, with both businesses committed to being at the forefront of this transformation.

It represents a further step in Aggreko’s continuing commitment to drive sustainable energy solutions and to expand its presence in the renewable energy sector, with RenEnergy having a strong track record of delivering high-quality renewable energy projects across South Africa and the United Kingdom.

The anticipated synergies between Aggreko and RenEnergy will enable the businesses to collectively deliver more comprehensive renewable energy solutions to meet the evolving needs of even more clients and to support them through the energy sector’s transition to more renewable sources.

RenEnergy will continue to operate under its widely respected and well-known brand, and the senior leadership teams in South Africa and the UK are all excited by the opportunities that the partnership brings. The directors feel that there is a great fit between RenEnergy’s and Aggreko’s strong focus on technical expertise, client service and the commitment and energy of their people.

Claude Peters, MD of RenEnergy Africa: “We are excited about the future of the renewable energy industry and the role we can play, together with Aggreko, to bring more solutions to more clients. We can accelerate our growth by combining with a significantly larger player in the energy industry. Our commitment and ability to build long-term partnerships with our clients and suppliers is strengthened even further. I am very proud of my team, who has shown remarkable resilience and strength in this period of intense growth in the solar industry in South Africa.”

Chris Rason, MD of Aggreko Energy Services: “RenEnergy is a well-run business in the growing renewable energy sector and we look forward to supporting the management team in achieving their growth ambitions, both in terms of investment and the benefit our commercial position brings in both the UK and South Africa.”

RenEnergy were advised on the transaction by FRP Corporate Finance, Mills & Reeve and STBB. Aggreko were advised by Deloitte and DLA Piper.

About RenEnergy

RenEnergy was founded in the UK in 2006 and has extensive experience and expertise in engineering renewable energy solutions, with innovative solutions in the solar carport and electric vehicle charging space. RenEnergy is principally focused on the application of solar photovoltaics (PV) and energy storage. The company consults on, designs and delivers innovative renewable solar PV solutions to clients around the world.

In South Africa, further significant expertise has been developed in energy storage solutions, in response to the country’s unique energy challenges. RenEnergy’s focus on cutting-edge technology and sustainability aligns perfectly with Aggreko’s commitment to providing clean, reliable and efficient energy solutions.

Since 2006 RenEnergy have been passionate pioneers in renewable energy, and unwavering advocates for the environmental and value benefits that solar PV and energy storage can deliver. For more information about RenEnergy and its services, please visit www.renenergy.co.za.

About Aggreko

Aggreko is the global leader in providing energy solutions that help businesses grow and communities thrive.

Operating in a rapidly changing energy market where reliable supplies of energy have never been more critical, they provide customers with power and temperature control solutions when, where and for however long they need it.

Using the latest technologies, they combine their innovative thinking with their sector knowledge to help their customers achieve their goals, however complex, through a range of flexible, modular solutions.

They’re investing in more sustainable products, fuels, and services to make greener solutions accessible for their customers, supporting their move to a more sustainable and efficient future.

Founded in 1962, we are headquartered in the UK and employ over 6,000 people worldwide.”

For more information, please visit their website at Home | Aggreko

Contact

Christine Bombal

RenEnergy International Marketing Manager

christine@renenergy.co.za