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Harith General Partners has invested in NOVO Energy

Sandton: ​Harith General Partners has invested in NOVO Energy, a power and technology company that specialises in supplying alternative fuel technologies and services in Africa. Harith, the South African based fund manager, purchased a significant shareholding at NOVO Energy through its US$435m second Pan African Infrastructure Development Fund (PAIDF2). 

The partnership was established to create a strategic alignment and focus on the supply of natural gas in the Southern African energy mix. Harith and NOVO, share a common vision to offer cleaner and more affordable industrial and transportation fuel to the Southern African market.  With more than 100 years of cumulative experience in the alternative fuels market, NOVO has positioned itself as a notable competitor. The integrated gas company, has established long-standing partnerships with leading international technology suppliers to design, implement, operate and maintain fuel solutions using natural gas.

NOVO also specialises in the establishment, ownership and operation of gas infrastructure such as gas compression stations, dispensing stations for vehicles and pipelines for the supply of gas to customers.
Harith CEO, Tshepo Mahloele said that it is widely accepted that natural gas will play a significant role in the energy mix and economies of a number of African countries in the foreseeable future. “The NOVO offering and expertise allows for current and future gas sources to be linked with existing and growing markets on the African continent. In addition to the environmental benefits of natural gas, the availability of gas also creates substantial socio-economic development opportunities through job creation and increased sustainability of the sectors it serves”.

Mahloele also said that Harith firmly believes that this new partnership will lead to the accelerated roll-out of infrastructure required to link gas supplies and gas markets in Africa to the benefit of its people.

Andri Hugo, CEO, NOVO Energy affirmed: “The Harith / NOVO partnership is significant in the sense that it would support the Southern African Government aspirations to develop a gas economy as outline in the soon-to-be expected Gas Utilisation Master Plan.  The IPP office has indicated similar aspirations to support the establishment of power producers using gas.  In our opinion, gas would furthermore be a major role player in the National Development Plan where the combination of natural gas and our abundant resources could result in significant socio-economic benefits to the country.  Harith’s development aspirations would be perfectly complimented by NOVO’s extensive experience in the natural gas industry”.
As a founding member of President Barack Obama’s Power Africa Initiative, which is directed at sourcing and resolving energy problems that strongly limit the economic growth in Africa, Harith is of the view that NOVO will also play an active role in contributing to the broader measures that address the supply of energy on the continent.

About HARITH:

Harith General Partners is the leading Pan-African fund manager for infrastructure development across the continent. With offices in Johannesburg, Cote d’Ivoire and London; Harith manages Africa’s first and only 15-year US$630m infrastructure fund, the Pan African Infrastructure Development Fund (PAIDF1) and recently announced the first close of the US$435m PAIDF2. The funds are invested in a number of major projects in diversified sectors such as energy, transport, information and telecommunications, and water and sanitation. Harith recently added health care as a sector.

PAIDF is supported by African capital raised from state pension funds, development finance institutions, top investment banks and financial institutions.
http://www.harith.co.za   

   
About NOVO

“NOVO Energy is a South African energy and technology company and obtained a gas trading licence from the National Energy Regulator of South Africa (NERSA) in 2009.  NOVO is actively pursuing and developing natural gas projects in sub-Saharan Africa.

NOVO is committed to being environmentally, socially and economically responsible through sustainable solutions for our society. This has been our aim from the start and will always be true to our values. Novo Energy is a level 4 BBBEE contributor.

NOVO offers a tried, tested and proven technology that is ecologically sound, simple to use and safe. NOVO provides pipeline natural gas / compressed natural gas and natural gas vehicle  solutions. The availability of methane rich gas supply in Southern Africa can satisfy this need. A comprehensive offering includes the;
• development of gas supply from traditional and alternatives sources,
• establishment, ownership and operation of gas distribution infrastructure,
• providing cost-effective solutions to distribute natural gas to the point of use,
• sale and trading of natural gas via pipeline, on-site delivery with compressed natural gas technology,
• supplying vehicle-fuel conversion equipment, fleet refuelling infrastructure, power generation solutions and industrial customer installations,
• operations, service and maintenance of gas infrastructure and logistics 

NOVO’s activities include the sourcing of gas from conventional suppliers (pipelines) or the development of its own alternative or unconventional methane sources (biogas sources, coal bed methane and unconventional biogenic).  Further activities include the establishment, ownership and operation of the required gas infrastructure such as gas compression stations, dispensing stations for vehicles and pipelines. The company provides turnkey solutions to customers for industrial and power generation applications and vehicle conversions for fleets. NOVO also has a wholly owned subsidiary that is a registered credit provider specialising in equipment financing for customers.”

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