Red Rocket Energy

About Red Rocket Energy

Red Rocket is an independent power producer (IPP) focused on developing, designing, constructing, and operating renewable energy projects across Africa. The company was founded in 2012, originally as the African and Middle Eastern business unit of Building Energy, and is headquartered in Cape Town, South Africa. In 2020, CEO Matteo Brambilla led a management buyout, establishing Red Rocket as a fully integrated, African-focused IPP.

The company's business model involves managing the entire lifecycle of its energy projects, from initial development and securing financing to construction and long-term operations and maintenance. Red Rocket operates a diverse portfolio of technologies including onshore wind, solar photovoltaic (PV), and hydropower. Its clients primarily consist of national utility companies, such as South Africa's Eskom, and large commercial and industrial entities through Power Purchase Agreements (PPAs). For example, the company has a 20-year PPA with Richards Bay Minerals, a subsidiary of Rio Tinto, for power from its Overberg Wind Farm.

Red Rocket has achieved significant milestones, growing its portfolio to over 3.7 GW of projects that are operational, under construction, or have been awarded preferred bidder status. Key projects include the Kathu Solar Park, one of South Africa's first PV projects, and several wind farms like Roggeveld, Rietkloof, and Brandvalley. In May 2025, the company launched the Rietkloof and Brandvalley wind farms, adding a combined 288 MW to South Africa's national grid. The company is also developing what will be South Africa's largest privately developed wind farm, the Overberg project. In September 2023, Red Rocket secured a major capital injection of $160 million from a consortium of investors including the Evolution II and III Funds, STOA, and FMO, the Dutch development bank, to fuel its expansion across the continent.