REC Group sells Solar Vision in South Africa

Facebook
Twitter
LinkedIn
Reddit
Email

South Africa-based solar panel and component provider Solar Vision, a former wholly-owned subsidiary of REC Group, has been sold through a management buyout. Following the decision that Solar Vision was no longer considered to be a core business for the Norway-based company, the Solar Vision was divested through a management buyout.

Solar Vision, a major player in the PV rural electrification segment in South Africa, is now part-owned (76%) by Jakes Jacobs, Managing Director of Solar Vision, and is acquired through his South African company Triple J Trust; former REC employee Tommy Fernandes, through his Norwegian company InSite International AS, acquires the remaining 24% of shares.

It is expected that Solar Vision will retain its focus on low-cost solar systems deployment, but will also look to diversifying its peripheral activities.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA