Transaction Summary
Pele Energy Group (PEG), a South African Black Economic Empowerment (BEE) infrastructure company, has secured a $31 million (R575 million) equity investment from Nedbank and the Norwegian Climate Investment Fund, managed by Norfund. Founded in 2009 by five young entrepreneurs, PEG develops, owns, builds, and operates renewable energy projects through its two main subsidiaries: Pele Green Energy (PGE), an independent power producer focused on utility-scale clean energy, and Knowledge Pele (KP), which drives socio-economic transformation via skills development and community engagement. The group currently has 980 MW in operation, 670 MW under construction, and a pipeline exceeding 5 GW under development. This investment was made into the newly established Pele Energy Fund 1, with Nedbank and Norfund as limited partners, and PEG as the general partner. The $31 million equity round follows a broader structured loan arrangement in 2023, totaling close to $135 million, with Nedbank providing $53.7 million, Norfund
