Evolution II Fund launches Red Rocket after a buyout of Building Energy

AFRICA – Evolution II Fund, a part of Inspired Evolution, in partnership with the company’s management, has closed a buyout of Building Energy’s Africa and Middle East business to launch the newly branded Red Rocket. The new joint venture will see the re-capitalisation and positioning of Red Rocket to become one of Africa’s leading emerging renewable energy independent power producers (IPPs). Evolution II holds a majority shareholding in the reconfigured IPP platform and is advised by Inspired Evolution, an Africa-focused investment advisory firm that specializes in clean energy infrastructure and…

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