GEL seeks to develop, own and manage a portfolio of investments in Qualifying Companies that are involved in the development, owning and managing of renewable energy generation assets that demonstrate high yield annuity cashflows. GEL will invest equity in energy projects that are below permitting thresholds to avoid protracted development periods and to avoid the requirement for construction debt finance. The directors of GEL share the goal of expedient capital deployment. By developing and implementing a diversified portfolio of small scale projects, the Company aims to reduce risk as well as create value for its Investors.
|Targeted Capital Raise||: R60 000 000|
|Opening Date||: 20 February 2018|
|Closing Date||: 28 February 2018|
|Minimum Investment||: R200 000|
|Fund Manager||: Eco Energy Group (Pty) Ltd|
|Performance Fees||: 20%|
|Management Fees||: 2.5% p.a|
|Capital Raising Fees||: 3% once off|
|Targeted IRR||: 16%|
Please note that this fund is currently closed for investment.
Mafika completed his B.Sc. degree in Mathematics and Applied Mathematics at the University of Zululand in 1978. He also graduated with a Bachelor of Science in Electrical Engineering from the University of Natal (Howard College) in 1984. He has held operational positions as CEO of Transnet and Executive Chairman of Letseng Diamonds and Western Areas Gold Mine. Mafika was the non-executive Chairman of Transnet SOC from December 2010 to December 2014 and also a non-executive director of Eskom from July 2011 to December 2014. He was a non-executive director of Nedbank for 9 years.
Christiaan graduated with two Master’s degrees with both degrees focussed on different aspects within the renewable energy sector. He achieved a Bsc (Eng) In Mechanical Engineering, Master Msc (Eng) In Mechanical Engineering, master’s in development and Management Christiaan co-founded Sidala Energy Solutions with Luel Culwick in 2009 and has since gained 8 years of working experience developing projects in the renewable energy sector. Sidala developed a pipeline of over 100MW of small hydro plants in SA which will create approx. R4bil worth of capital investment opportunity for its shareholders. Sidala was first successful in the 4th window of the REI4P with its 5MW small hydro being selected as preferred bidder. Christiaan has focussed all energy into maximising development and equity returns to investors by entrenching himself in all commercial and technical aspects of the project pipeline. Having been a project owner, he has developed a passion for negotiating and deal making and has gained significant legal and commercial experience in project development and implementation.
Elekanyani is a qualified engineer; she graduated with a Bachelor of Science in Electrical Engineering from UCT (University of Cape Town) and completed the Technology Leadership Programme with Eskom and Da Vinci. Her experience in the energy sector includes working on large scale infrastructure projects and has been trained internationally in the United States of America (USA), Kansas, on engineering design. She has participated in the Bio-mass VGB (European technical association for power and heat generation) Work Group and KEMA in Netherlands. Heads up an engineering and project management function at Pele Energy Group which is a South African black owned Independent Power Producer that owns and operates 902MW of renewable energy power plants in varying stages of development.
Jeffrey is a Chartered Accountant having completed his articles at Grant Thornton and has over 30 years’ experience investing in unquoted companies across numerous industries. Jeffrey co-founded Brandcorp, which was listed on the Johannesburg Stock Exchange in 1997. He brings many years of operational and investment skills to the Company. He was a co-founder of KNR Flatrock, Balboa Finance, Born Free Properties, Eurosuit, Bride & Co., Seed Engine, Seed Academy and VCMS. Jeffrey is a pioneer of Section 12J Venture Capital Companies in South Africa and is an active member of various sub-committees of SAVCA and Simodisa, both of which focus their efforts on the South African Venture Capital industry.
Luel Culwick graduated from Wits in 2008 with a BSc Eng in Industrial Engineering, and in 2010 with an MSc Eng in Sustainable Energy Engineering from UCT (the Energy Research Centre). Luel Culwick is a Director of Sidala Energy Solutions which he co-founded with Christiaan Bode in 2009 whilst completing their studies. Luel graduated from Wits in 2008 with a BSc Eng in Industrial Engineering, and in 2010 with an MSc Eng in Sustainable Energy Engineering from UCT (the Energy Research Centre). Sidala has initiated and developed four Small Hydropower projects in South Africa totalling 111MW and a total investment value of some R4bil. Sidala led the sale of a 5MW Small Hydro Project ahead of its successful bid into the Fourth Bid Submission Phase of REI4P. Thereafter, Sidala took a step further and was the Lead Member of the Rooikat Hydropower Consortium which was the Bidder in respect of the Rooikat Hydropower Project in the Expedited Bid Submission Phase of the REI4P, which Sidala managed and compiled in its entirety. Luel’s primary capability is renewable energy project initiation and development, and value creation through risk management and commercialisation of projects. His skills include integration of the technical, legal, financial and environmental / regulatory aspects of project development, as well as procurement and management of multidisciplinary teams. He has fund raising experience including having raised development funding of R40mil and grant funding of R15mil to date. His work for Sidala has fallen mainly within the rigors of limited recourse project finance environment.
Malcom holds the following qualifications; B.Com, CA (SA), CPA (ISR) After qualifying as a Chartered Accountant in 1972, Malcolm practiced as a partner of Grant Thornton (Chartered Accountant and Business Advisers) and was elected managing partner of the Johannesburg office in 1986 and National Executive Chairman in 1989. Malcolm resigned from Grant Thornton in 1997 to establish a private equity investment fund which he managed until acquired by Sasfin Holdings Limited in 2005. In February 2012, Malcolm resigned from the boards of both Sasfin Holdings Limited and Sasfin Bank Limited so as to pursue his passions of entrepreneurship and entrepreneurial investment activities.
Doug holds the following qualifications; B.Com, MBL Doug is Chairman of “The Smollan Group” which was founded by Doug’s father, Fred Smollan, in 1931. The Smollan Group employs roughly 50 000 people and has a presence in 5 (five) continents. Doug is passionate about South Africa, its people and its development. He served as President of Young Presidents Organisation Worldwide in 1994/1995, the second Non-American to do so in 50 (fifty) years, at that time he was Chairman of Business Against Crime (“BAC”), Gauteng in 1997. In 2000, he joined BAC’s National Board. Doug heads up the Consumer Goods Council of South Africa Anti-Crime initiative. Doug is a Pioneer of the Nelson Mandela: “The Champion Within” Program with Life College to develop R1,000,000 (one million rand) champions by 2020.
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