H1 Holdings and Revego Fund Managers are in talks to combine their renewable energy portfolios and investment operations in a transaction that could establish one of South Africa’s largest dedicated renewable energy investment platforms, with assets worth an estimated US $820M (R13.3 billion).
The proposed merger would bring together H1 Holdings’ portfolio of operational renewable energy assets and Revego’s institutional investment expertise, forming a larger platform focused on owning, managing, and expanding renewable energy infrastructure investments across the country.
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Road to clean energy
H1 Holdings currently has stakes in 26 renewable energy projects spanning solar, wind, hydropower, and battery energy storage technologies. The diversified asset base is expected to provide a strong foundation for the combined entity as demand for renewable energy investments continues to grow.
The discussions come amid increasing interest in South Africa’s renewable energy sector from institutional investors, including pension funds, insurance companies, and infrastructure-focused investment firms seeking stable, long-term returns from operating energy assets. Market analysts say the proposed platform could help improve capital flow within the renewable energy industry. By acquiring and managing mature projects, the combined business would allow developers and early-stage investors to recycle capital into new renewable energy developments, supporting the expansion of the sector.
The transaction also reflects a wider trend of consolidation within South Africa’s clean energy market, where investors are increasingly pursuing larger and more diversified platforms capable of delivering scale, operational efficiency, and access to long-term institutional funding. If finalized, the deal would strengthen the market positions of both companies while creating a significant vehicle for renewable energy investment. The enlarged platform is expected to pursue further growth opportunities while supporting South Africa’s broader energy transition and efforts to build a more resilient electricity system. The proposed merger highlights the growing role of institutional capital in advancing renewable energy deployment and driving the long-term development of sustainable energy infrastructure across Africa.
