KEY POINTS
- African Rainbow Energy raised its SOLA Group stake from 41 percent to 83 percent in a $1.2 billion deal.
- The combined ARE renewable energy portfolio now stands at nearly 2,000MW of solar and battery storage capacity.
- SOLA Group supplies clean energy to Amazon, Sasol and Vodacom through solar projects and wheeling arrangements.
Patrice Motsepe’s African Rainbow Energy has moved from minority partner to majority owner of SOLA Group, acquiring a controlling stake in a renewable energy portfolio worth more than R20 billion, roughly $1.2 billion, in a deal that significantly reshapes South Africa’s commercial solar landscape.
African Rainbow Energy raised its shareholding in SOLA Group from 41 percent to 83 percent, completing a transaction that deepens a partnership the two companies have maintained for five years. SOLA Group has built a strong track record in commercial solar photovoltaic projects, battery storage systems and private power purchase agreements, supplying clean energy to major corporations including Amazon, Sasol and Vodacom.
The deal also adds a significant electricity wheeling component to ARE’s portfolio. SOLA has established itself as a leader in wheeling arrangements, a system that allows renewable energy generated at one site to travel through the national grid to customers elsewhere. That capability has given large corporations a practical route to cleaner power without building their own generation infrastructure.
A portfolio approaching 2,000MW
The acquisition pushes African Rainbow Energy’s combined renewable energy portfolio to nearly 2,000MW of solar and battery storage capacity. Around 1.5 gigawatts is already operational across South Africa, with another 500MW under construction. Key assets in the SOLA portfolio include the Springbok Solar Power plant and the Naos-1 hybrid energy facility.
Motsepe said the investment strengthens ARE’s vision of building a world-class African energy infrastructure platform capable of delivering affordable and sustainable electricity while supporting broader economic growth across the continent.
Leadership changes at SOLA Group
The transaction has triggered a leadership transition inside SOLA Group. Founders Simon Haw, Chris Haw and Dom Chennells are stepping back from daily executive responsibilities, though all three will remain as shareholders and non-executive directors. Dom Wills has returned as group CEO to lead the company’s next phase of growth.
The five-year partnership between African Rainbow Energy and SOLA Group laid the operational foundation for the acquisition. ARE’s move to majority ownership signals confidence in South Africa’s commercial and industrial renewable energy market at a moment when demand from large corporations for clean power solutions continues to grow.
South Africa’s private renewable energy sector has expanded sharply in recent years as businesses sought alternatives to an unreliable national grid. ARE’s expanded SOLA stake positions it as one of the country’s most significant players in that market.
