UK Climate Investments, Norfund invest in South African JV to develop renewable assets

Macquarie-managed UK Climate Investments (UKCI) and Norfund are financing a joint venture (JV) between H1 Holdings and Pele Green Energy to fund a 40% equity participation in a 700 MW portfolio of onshore wind farms. Both partners will invest alongside Enel Green Power in one of South Africa’s largest renewable energy equity deals valued at about $100-million.