On 13 September 2016, Next Renewable Generation (NrG), renewable energy independent power producer (IPP) and energy consulting group, concluded a significant investment deal with Inabata, a large Japanese trading company. After collaborating with NrG on the development of an African utility power project, Inabata was impressed by NrG’s rigourous approach to energy projects, and staying power in SA’s energy market.
NrG, with a shareholder history as Kayema Energy Solutions and NRG Renew, was founded in 2008 and has become a well-established entity in the South African market. Through keeping abreast with new technologies and energy solutions, NrG was named “Energy Company of the Year” by the South African Energy Efficiency Agency in 2010, and was nominated for the “Energy Efficiency Project of the Year” in 2011.
Inabata is a listed company on the First Section of the Tokyo Stock Exchange and currently operates across 18 countries. The global trading company, with supporting activities such as manufacturing and processing of plastics, chemicals and electronics, sees the deal as an opportunity to extend its trading platform into Africa.
As the owner of two of the first true private Power Purchase Agreements in South Africa, NrG views this investment as a catalyst to NrG becoming a leader in the African power industry.
See the full story, published in Engineering News, here.