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Reunert takes majority stake in South African solar developer

Climate Finance

Reunert has taken a majority stake in a South African solar developer.

The information technology company bought a 51 percent stake of Terra Firma Solutions, which designs and develops commercial rooftop solar projects.

Terra Firma has overseen 800 projects since 2012, including an 800 kilowatt-peak plant commissioned by South African wine producer DGB.

Reunert also bought a 75 percent stake in Ryonic Robotics, which manufactures unmanned ground vehicles that can be used — among other things — to inspect mining sites, where 500,000 people are employed across South Africa.

Reunert, listed on the Johannesburg Stock Exchange, is valued at nearly $1 billion. Financial terms of the acquisitions were not disclosed.

This post is from ImpactAlpha’s daily newsletter. Get it first in The Brief.

Photo credit: Terra Firma Solutions

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