people · May 16, 2026
African Rainbow Energy Increases Stake in SOLA Group to 83%
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African Rainbow Energy increased its stake in SOLA Group from 41% to 83% on May 13, 2026. The transaction gives ARE majority control over SOLA's renewable energy portfolio valued at more than R20 billion. SOLA Group founders Simon Haw, Chris Haw, and Dom Chennells step back from executive roles to become non-executive directors while retaining shareholdings. Dom Wills returns as group CEO after previously leading the company from 2017 to 2024. Brian Dames, CEO of African Rainbow Energy, stated the partnership over the past five years has delivered significant growth.
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