RMB buys into Remgro’s energy platform

RMB, a prominent financial institution, has recently acquired a 25 per cent shareholding in Remgro's Ubiquity Energy platform, Energy Exchange of Southern Africa. This platform aims to provide independent power producers with the opportunity to sell power to corporates and other entities. In a recent interview with CNBC Africa, Sindisiwe Moseu, Infrastructure Sector Solutions Transactor at RMB, shed light on the investment and the potential it holds for the energy market. The key theme of RMB's investment in the energy exchange platform is to unlock value for clients and facilitate the trading of electricity between buyers and sellers, ultimately contributing to the growth of power generation in the market. Three key points emerged from the interview: the progress and future plans of the Energy Exchange of Southern Africa, RMB's role in unlocking the market, and the target audience of the platform. Moseu highlighted the positive developments of the energy exchange, such as obtaining a trading license with NERSA and the anticipation of electron trading by June with a pipeline of over 100 megawatts in the works. RMB's intention in investing in the platform is to aid in unlocking the market and leveraging its expertise in the industry to facilitate growth and value for clients. The interview also explored the potential of the platform in attracting smaller corporates that may not be large intensive users but are looking for privately procured power solutions. Moseu emphasized that the platform is designed to cater to entities requiring between two to five megawatts, providing them access to generation power that can meet their consumption needs. RMB's investment in the Ubiquity Energy platform aligns with their commitment to decarbonize the market and contribute to the country's renewable energy strategy. By supporting the liberalization of the energy market and reducing the impact of load shedding on the economy, RMB aims to drive a just transition towards cleaner and more sustainable energy solutions.