Westbrooke Alternative Asset Management, a leading multi-asset manager and advisor, is pleased to announce the successful conclusion of a partnership agreement with Fibon Group, a prominent South African developer and operator of renewable energy projects. This strategic collaboration aims to bolster South African companies in their transition towards sustainable energy solutions, particularly in the realm of solar power and battery energy storage systems (BESS).
Through its Westbrooke Renewable Energy Alternative strategy, Westbrooke has concluded a dynamic funding transaction with Fibon Group. This initiative provided essential capital to 11 Solar Power and BESS projects for the financial year ending 29 February 2024, marking a significant milestone in advancing green energy initiatives within the region.
Fibon Group, with its distinguished track record spanning 12 years, has been a key player in developing and constructing behind-the-meter Solar Power Projects in South Africa. Looking ahead to the financial year ending 28 February 2025, Fibon Group will oversee more than R175 Million worth of Solar Power and BESS projects. Additionally, the company is currently engaged in the construction of a 100MWp Solar Power project, scheduled for completion in 2026, thereby propelling its assets under management to over R1 Billion.
“Westbrooke’s Renewable Energy Alternatives strategy has been developed to assist partners like Fibon to expedite the transition to green energy in South Africa through solar PV projects. Working with Fibon over the last year has been a great start to what we believe will be a fruitful partnership as we continue to support the business with capital to deliver on its project pipeline and growth ambitions” – Saul Maserow, Westbrooke SA Investment Team.
Avesh Padayachee, CEO of Fibon Group, conveyed his appreciation for the support received from the Westbrooke team emphasising Fibon’s commitment to becoming a leading provider of energy security to the corporate and industrial sectors, through decarbonisation, digitialisation, and decentralisation of power supply. ‘I look forward to collaborating closely with Westbrooke to realise Fibon’s vision, including the forthcoming 30MWp of Solar Projects in FY25”.
For further information on Westbrooke Alternative Asset Management’s capital solutions in South Africa, please contact info@westbrooke.com
About Westbrooke Alternative Asset Management
Established in 2004, Westbrooke is a multi-asset, multi-strategy manager and advisor of alternative investment funds and co-investment platforms. We have a heritage as a shareholder and operator of assets and invest our own capital alongside our investors in Private Debt, Hybrid Capital, Real Estate and Private Equity in South Africa, the UK and the USA. We provide businesses and support transactions with fast, flexible, value-added debt and equity solutions which are tailored to meet their needs.
Our client’s benefit from the depth of experience and quality of our investment teams, who move with speed and are comfortable dealing with complexity. This, together with our multi-decade track record as an owner and operator of assets allows us to better understand the needs of entrepreneurs and to see risk differently, providing our partners with a unique advantage.
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More information: https://www.westbrooke.com
About Fibon Group
Fibon Group, founded in 2012, is a South African developer and operator of renewable energy projects, specialising in behind-the-meter solar power solutions.
Fibon Energy caters to the agricultural, body corporate, and retail sectors within the 100KWp to 5MWp energy consumption range, while Fibon Power offers blended green energy solutions to listed companies, large manufacturing, and property funds in the 5MWp to 100MWp range.
Fibon Power’s wheeled portfolio consists of a 100MWp Solar Power project with an estimated commercial operation date of Dec 2025 and in excess of 220MWp of wind, solar and BESS projects under active development. We offer short term and flexible power purchase options from 1 year to 10 years. For further details, visit https://www.fibonenergy.com or contact Avesh@fibonenergy.com.
