Consolidated Infrastructure Group (CIG) expects to continue its “above-average growth” as a result of Africa’s power sector. At the end of 2012, CIG made its first African purchase, Angola Environmental Servicos (AES), and then opened an O&M division in mid-2013.
AES helped the company’s earnings, which jumped to 51% for six months ending in February. CIG’s revenue was up 31% and diluted headline earnings per share were 51% better due to AES’ inclusion. CEO Raoul Gamsu said that the company will see further growth from South Africa as a result of investments in the renewable energy sector. He added that there were even greater opportunities throughout sub-Saharan Africa. Gamsu said that over the next decade, CIG expected to roll-out more AES-type businesses across the continent.
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