EIMS Africa Announces The Acquisition Of Renewable Energy Empowerment Management Services (Reesco)
EIMS Africa Announces The Acquisition Of Renewable Energy Empowerment Management Services (Reesco). Renewable energy company EIMS Africa took to LinkedIn to announce that it has acquired Renewable Energy Empowerment Management Services (Reesco).
The post read, “EIMS Africa has successfully acquired management services company, Renewable Energy Empowerment Management Services (Reesco) – a key step in the company’s expansion plans as it anticipates increasing its generation capacity to about 1500 MW by late 2022.”
EIMS Africa is one of the largest South African-owned renewable energy companies consisting of a portfolio of 11 utility-scale projects with a combined generation capacity of over 700MW. EIMS Africa is led by a team of energy sector experts and is focused on maximizing shareholder returns, minimizing their risk of investment and doing so in a way that delivers lasting and sustainable social impact to the local communities that surround these projects.
EIMS Africa CEO Ryan Hammond told Engineering News that, “We have several other secured projects at various stages of the financial close process and by the end of this year, we expect that number to almost double, along with our platform’s generation capacity. This growth is not possible without a dedicated team of experienced individuals who know what it takes to deliver and operate these projects. The Reesco acquisition is a key step in facilitating our growth as it augments the depth and experience of our team.”
Renewable Energy Empowerment Services Company (Pty) Ltd (REESCO) was incorporated in 2012, specifically, to provide management services to Independent Power Producers. The founders saw the need for a dedicated administration firm that would provide professional support to the new project developers to navigate the onerous requirements set by the Department of Energy.
