Pele Energy Secures $31M for Renewables

March 07, 2025 • Estimated Reading Time: 2 minutes

Key Figures & Findings:
Johannesburg-based Pele Energy Group (PEG) has raised $31 million to fund large-scale renewable energy projects across South Africa and the wider continent. The capital injection, backed by Nedbank and the Norwegian Climate Investment Fund (Norfund), will help PEG expand its portfolio of wind, solar, and battery storage projects. PEG CEO Gqi Raoleka emphasized that the funding would accelerate project development and create long-term sustainability impacts.

Statistics & Insights:
PEG currently manages a 3.5 GW renewables portfolio and plans to raise an additional $108–$162 million over the next two years to meet South Africa’s growing clean energy demand.

Future Implications:
By 2026, PEG’s expansion could significantly boost South Africa’s renewable energy supply, easing grid instability and reducing reliance on fossil fuels. This could also attract further investments in private-sector-led clean energy projects across Africa.