Group Five Ltd. Announces Kayema Energy Investment
Filed Under News, South Africa | Tags: Energy Efficiency, Group Five, Investment, Kayema Energy, Kayema Energy Solutions, Solar Water Heaters | Leave a Comment
As part of reporting their year end financial results, Group Five Ltd. announced its investment in Kayema Energy Solutions (PTY) Ltd. According to the statement ”The group invested R3 million for a 51% stake in an energy efficiency business, Kayema Energy Solutions. This business designs and manufactures solar water heating systems aligned to the group’s interests in large-scale energy efficient housing contracts and other solar power developments. The investment was made at fair value to the assets acquired”. The Group Five investment positions Kayema Energy Solutions for strong future growth as Group Five provides access to a strong portfolio of projects and support services that will allow rapid expansion of our Solar Water Heater and Energy Efficiency activities.