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Matt Wainwright

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Nedbank and Norfund invest in Pele Energy to boost renewable projects

Nedbank and Norfund are acquiring a substantial minority stake in Pele Energy, investing $31 million to support the renewable energy company's growth. This follows a $135 million structured loan from the same investors and South Africa’s Industrial Development Corp. Pele aims to raise an additional two to three billion rand over the next two years to meet the country's renewable energy needs, targeting at least 30 gigawatts to transition from coal dependency.
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United States Dollar Norwegian Krone South African Rand Nedbank Group Ltd. NOR ZAF Matt Wainwright
Business & Industry, News Article
03:12 05.03.2025
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