Globeleq acquires 66 MWp solar PV plant in Egypt

EGYPT – Africa-focused renewable energy independent power producer Globeleq, has completed the acquisition of the ARC for Renewable Energy S.A.E (ARC) 66 MWp solar PV plant located at the Benban Solar Park near Aswan, Egypt.  The ARC plant was developed by the SECI Energia, Enerray and Desert Technologies consortium as part of the second round of the Egyptian government’s feed-in-tariff program and achieved commercial operation on 4 November 2019 and provides clean electricity to the Egyptian Electricity and Transmission Company (EETC) under a 25-year power purchase agreement. The project was…

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Globeleq closes US$362m renewables refinancing in South Africa

SOUTH AFRICA – Globeleq, an independent power producer (IPP), has announced that it has completed the senior debt refinancing of three of its renewable energy plants in South Africa totaling 238 MW. The power producer said it has secured a debt financing package of ZAR 5.2 billion (US$ 362m) for which Absa Bank, part of financial services group Absa Group Ltd, served as the mandated lead arranger and sole underwriter. The transaction represents the second refinancing of renewable assets under the Department of Mineral Resources and Energy’s (DMRE) Independent Power…

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Power producer Globeleq and partners starts construction on first solar energy storage in Mozambique

MOZAMBIQUE – Power producer Globeleq, Source Energia and Electricidade de Moçambique (EDM) have begun construction on the first independent power producer (IPP) in Mozambique to integrate utility-scale energy storage with a solar PV plant. The 19MWp (15MWac) solar PV plant and 2MW (7MWh) energy storage system will be located in the Tetereane District of the city of Cuamba in the Niassa province, about 550 kilometres west of the coastal town of Nacala and the electricity will be sold through a 25-year power purchase agreement with EDM. The US$32 million project…

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Eswatini picks Globeleq and Sturdee Energy Consortium as preferred bidder for its solar projects tender

ESWATINI – The Eswatini Energy Regulatory Authority (ESERA) has officially announced the Globeleq and Sturdee Energy Consortium as the preferred bidder for its solar PV projects. ESERA officially released the intention to award notice on 14 April 2021 after evaluation of the bids submitted in November 2020 for the two 15MWac projects in the first tranche of the Kingdom of Eswatini’s procurement programme for new renewable generation capacity.  The tender was originally launched in March 2020. Jonathan Hoffman, Globeleq’s chief development officer, commented: “As the first utility scale renewable IPPs…

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Globeleq acquires stake in Quantum Power, relaunches Menengai II geothermal project

KENYA – British company Globeleq, with financial support from CDC Group has partially acquired Quantum Power East Africa GT Menengai (QPEA), one of the three Independent Power Producers (IPPs) developing the 105 MW Menengai geothermal project in Kenya. The investment is good news for Quantum Power, which has received the release from the Kenyan government since 2013 to supply 35 MW from the Menengai II geothermal power plant. The project has been at a standstill due to difficulties in raising funds. The Menengai geothermal project which is expected to produce…

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Globeleq acquires majority stake in power business CPGNL Limited, rebrands it

NIGERIA – Globeleq, an independent power generation company in Africa, has confirmed it will take a 74% majority equity stake in an existing Nigerian power business called CPGNL Limited (CPGNL), which will be rebranded as Globeleq Power Solutions Nigeria Limited. The current owner of the business, the Clean Energy Group, will retain the remaining 26% shares. “This investment demonstrates our commitment to look beyond the conventional generation methods and provide cleaner, more reliable electricity solutions directly to industries in the country.  This all helps to produce a flow of capital…

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