In a bold move that underscores both confidence and commitment to South Africa’s clean energy transition, Pele Energy Group (PEG), earlier this year, secured a R575 million investment backed by Nedbank and Norfund, the Norwegian Climate Investment Fund. More than just capital, this is a powerful endorsement of PEG’s vision to lead the country—and continent—toward a greener, more inclusive energy future.
As a proudly South African company, Pele Energy Group continues to demonstrate what is possible when homegrown innovation meets purpose-driven strategy. Through its operational arms—Pele Green Energy (PGE) and Knowledge Pele (KP)—the Group has positioned itself as a leader in both utility-scale renewable energy and socio-economic transformation.
“This transaction is a game-changer for the Pele Energy Group and the broader renewable energy sector,” says Gqi Raoleka, CEO of PEG. “It affirms our mission to drive sustainable energy solutions with lasting impact, not just for South Africa but across Africa.”
The investment has been structured with Nedbank and Norfund as limited partners and Pele Energy Group as the general partner. This fund gives PEG the flexibility to accelerate large-scale projects that address the country’s growing demand for reliable, low-carbon energy.
Beyond energy, the investment enables Pele Energy Group to deepen its commitment to social impact. Through KP’s work in education, enterprise development and local economic upliftment, the Group continues to weave community resilience into the fabric of its projects.
“We are not just building energy infrastructure—we are building a legacy for future generations,” says Raoleka.
According to Norfund, the projects financed through this partnership will help avoid 1.9 million tons of CO₂ emissions annually, a major contribution to South Africa’s climate goals. But the numbers only tell part of the story. The real impact lies in the jobs created, communities empowered and the shift toward an energy system that is by South Africans, for South Africans.
Pele Energy Group’s story is one of resilience, innovation, and unwavering belief in the country’s potential. With this landmark investment, the company is not only scaling renewable power—it’s powering hope.
