Seriti says R892m Windlab deal is ‘significant landmark’ in transition from coal to energy …

Black-owned coal miner Seriti Resources says the R892-million acquisition of a majority stake in Windlab Africa’s wind and solar assets represents a significant landmark in the company’s ambition to become a diversified energy business, as well as in reducing its own carbon emissions. Through the transaction, Seriti Resources’ recently-established Seriti Green will acquire a 51% controlling interest in Windlab Africa together with RMB (14.5%), Standard Bank (14.5%) and two individual partners, Windlab Africa’s Peter Venn (15%) and Ntiso Investment Holdings (5%).