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Patrice Motsepe has significantly expanded his footprint in South Africa’s renewable energy sector after African Rainbow Energy (ARE) acquired a controlling stake in SOLA Group, creating one of the country’s largest independently owned energy businesses.
The transaction increases ARE’s shareholding in SOLA Group from 41% to 83%, giving it majority control over a renewable energy portfolio valued at more than R20 billion. The deal positions the combined entity as a dominant force in the corporate energy supply market, with SOLA already recognised as South Africa’s largest independent power producer serving private sector clients.
SOLA Group has built its business on supplying electricity directly to companies through on-site renewable installations and through Eskom’s wheeling programme, which allows electricity generated in one location to be transmitted across the national grid to customers elsewhere. This model has become increasingly attractive as businesses seek reliable and cost-effective alternatives to traditional power supply.
The company’s operational scale underscores its growing influence. SOLA currently has 1,100 megawatts peak (MWp) of solar photovoltaic capacity and 730 megawatt-hours (MWh) of battery energy storage either operational or under construction. Its client base spans some of South Africa’s largest industrial and commercial players including Sasol, Tronox, Aspen Pharmacare, AB InBev, Woolworths, Pick n Pay, Clicks Group, Mr Price Group and Coca-Cola Beverages Africa.
Beyond industrial clients, SOLA also supplies energy to major property groups such as Growthpoint Properties and Vukile Property Fund, as well as financial and healthcare institutions including Old Mutual and Netcare. This diversified client base reflects a broader shift in corporate South Africa towards decentralised, lower-carbon energy solutions.
Following the acquisition, ARE’s total exposure to renewable energy and battery storage rises to approximately 2,000 megawatts, with around 1.5 gigawatts already operational and a further 500 megawatts under construction. Chief Executive Brian Dames noted that the partnership between ARE and SOLA over the past five years has already delivered significant growth. ” The latest investment supports the ambition to build a large-scale energy platform powered by modern, clean technologies,” added Dames.
Motsepe noted the deal strengthens ARE’s position as a leading independent energy player in South Africa and aligns with a broader vision to build a world-class African energy company. He said, “Expanding access to affordable and reliable electricity remains central to economic growth, particularly as businesses increasingly seek energy security amid ongoing power supply challenges.”
SOLA Group’s leadership will also evolve as part of the transition. Founders Simon Haw, Chris Haw and Dom Chennells will step back from executive roles but remain involved as non-executive directors and shareholders, ensuring continuity while creating space for new leadership. Dom Wills returns as Group Chief Executive, having previously led the company through a period of rapid expansion between 2017 and 2024.
Wills said SOLA’s strategy has consistently focused on helping corporate clients transition to cost-efficient, low-carbon energy systems, navigating increasingly complex regulatory and technological landscapes. With ARE now firmly in control, the company is expected to accelerate its expansion and deepen its role in reshaping South Africa’s energy market.
The transaction marks a pivotal moment in the country’s energy transition, signalling growing private sector leadership in power generation and reinforcing the shift towards scalable, decentralised renewable energy solutions.
