Hulisani says it has R2.5bn project pipeline as it lists on JSE

Newly established renewable-energy special-purpose acquisition company (Spac) Hulisani listed on the main board of the JSE earlier this month, taking advantage of investor demand for energy assets in South Africa and the rest of Africa.

Company CEO Malungelo Zilimbola says the formation of the company was prompted by the need to address the poor economic growth of South Africa, which he says is “constrained by the energy capacity of the country”.

He notes that the company is dedicated to improving capacity constraints by investing in renewable-energy projects.

However Hulisani also wanted to contribute to developing the continent. It would achieve this through job creation, economic development and greater economic participation by previously disadvantaged communities, which Zilimbola suggested could be resolved though the development of renewable energy projects across Africa.

Zilimbola noted that Hulisani currently had a project pipeline of about R2.5-billion across Africa and would announce its first renewable energy investment in the next two months.