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independent power producer Globeleq has acquired a 48.3% stake in a 25-MWp solar plant within the Benban Solar Park complex in Egypt. The stake was

Globeleq, a leading African power producer, has agreed to acquire a 75% share in the operational Mocuba solar plant located in Mozambique. The plant has a 41 MW capacity and is owned by Scatec and KLP Norfund Investments. EDM, the national power company, will retain the remaining 25% stake in the project. Construction was completed in August 2019 and the plant supplies electricity to the national grid through a 25-year power purchase agreement with EDM. Globeleq is also in the process of commissioning a 19MW solar and 7MWh energy storage project in Cuamba and developing a 120MW wind project near Maputo. When these new projects are completed, Globeleq’s solar portfolio in Africa will have a total capacity of around 400MW. What Is Globeleq's African Solar Portfolio? Globeleq's African solar portfolio includes: The construction of 1.4 gigawatts (GW) of solar power plants in South Africa, with an estimated total investment of USD 2 billion An additional 1 GW of solar power plants across other African nations, including Botswana, Namibia, Zambia, and Mozambique The development of a 200 megawatt (MW) of solar projects in Ethiopia, with an estimated total investment of USD 300 million The construction of a 100 MW solar project in Rwanda The development of a further 60 MW of solar power plants in Zambia The installation of a 60 MW of solar power plants in Uganda

Globeleq has acquired a majority stake in the Mocuba solar PV power farm in Mozambique. The company received 52.5% of the project from Scatec ASA and 22.5% from KLP Norfund, with 25% remaining with the Mozambique’s national power company EDM. This acquisition is part of Globeleq’s solar PV portfolio in Africa across South Africa, Egypt, Kenya and Mozambique with a total capacity of close to 400MW. Additionally, the company's Temane gas-to-power plant and Namaacha wind power project in Mozambique are expected to reach financial close and commercial operations respectively in 2024. What Does Globeleq's Acquisition of Mocuba Mean? Globeleq's acquisition of Mocuba is part of the company's larger strategy to expand its African solar PV portfolio. With the completion of Mocuba project, Globeleq will have total capacity of close to 400MW across South Africa, Egypt, Kenya and Mozambique. Globeleq's 51MW Temane gas-to-power plant and 100MW Namaacha wind power project in Mozambique are both expected to reach financial close and commercial operations in 2024. The acquisition of Mocuba is expected to strengthen Globeleq's presence in Mozambique and provide clean electricity for thousands of households. The Mocuba project is the first solar PV project in Mozambique and has the potential to stimulate further investments in renewable energy in the country.

the 40 MW Mocuba solar power plant in Mozambique to independent power producer Globeleq for $8.5m. Globeleq will be responsible for operations, maintenance,

Globeleq, the key partner in the Ikamva Consortium, has claimed that it has actually gotten to lawful close on 6 solar power projects under South Africa's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The solar projects complete to 450 MW in capacity. Globeleq, the Africa-focused independent power producer (IPP)-- is majority partner in the Ikamva Consortium. Together with wind and solar developer Mainstream Renewable Power, Globeleq is leading the consortium. The resulting the legal close methods that the power purchase agreements (PPAs) with South African electrical power public utility Eskom, as well as the application agreements with the Department of Mineral Resources and also Power (DMRE), now stand inked. The Ikamva Consortium from here will strive for the growth of the renewable energy projects and relocate them to commercial close. As per reports, the advancement of the renewable energy projects will certainly begin in 2023, which is following year. The solar energy projects under the plan of points are expected to produce power in 2025. In October 2021, the Department of Mineral Resources and Power (DMRE) awarded Preferred Bidder standing to the consortium. The official statement by Globeleq held that the project will see the growth of six 75-MW solar power projects. All of the projects lie in the Free State Province. They will certainly also be the largest renewable energy projects in the South African province to date. The 6 solar projects belong to a 1.27-GW solar and wind portfolio. The projects concerned are Kentani, Leliehoek, Klipfontein, Klipfontein 2, Braklaagte and Sonoblomo. Every one of the projects will attract a financial investment of regarding $524 million, claimed Mainstream Renewable Power. Mike Scholey, Chief Executive Officer (CEO), Globeleq, stated, "Africa's solar capacity is enormous, and we commend the Government of South Africa for remaining to push the sustainable schedule to offer clean and also stable electricity to the grid and also support the country's decarbonization as well as renewable energy targets."

release additional funds for financial investments in the power sector, Globeleq explained. The deal is Globeleq's 4th refinancing of sustainable

pact was authorized at the COP27 climate summit in Sharm El Sheikh, Egypt, Globeleq stated on Monday. Its partners in the effort will certainly be the General

Globeleq has selected Chinese storage giant Sungrow to equip its 153-MW / 612-MWh Red Sands battery energy-storage system (BESS) in South Africa, signing a supply and 15-year service term-sheet that anchors the continent’s most ambitious standalone battery project to date. Sited about 100 km south-east of Upington in the Northern Cape, Red Sands is the flagship winner of South Africa’s new Energy Storage Capacity Independent Power Producer Procurement Programme (ESIPPPP). The plant will sprawl across five hectares beside Eskom’s Garona substation, soaking up surplus midday solar and wind power and releasing it into the evening peak to ease the country’s chronic load-shedding bouts. Globeleq pegs the investment at US $300 million (ZAR 5.7 billion) and expects construction to last 24 months once financial close is reached late next year, putting commercial operations on track for 2027. Designed for four hours of discharge, the system will be able to cover the after-dark demand of roughly 160,000 households while stabilising voltage on the Kimberley–Cape corridor. Under the deal Sungrow will supply its liquid-cooled PowerTitan 2.0 modules and assume long-term operations and maintenance, a package Globeleq says de-risks performance while allowing for South African assembly partners. “This strategic handshake turns vision into gigawatt-hour-scale reality,” noted Paolo de Michelis, Globeleq’s head of renewables. Red Sands is the company’s first utility-scale storage asset in South Africa, complementing eight existing solar and wind plants (384 MW) and a solar-plus-storage hybrid in Mozambique. Management view the project as a launch pad for a wider storage pipeline expected in upcoming ESIPPPP rounds. For Sungrow, the win extends a flurry of African contracts and comes amid updated South-African grid-code rules that fast-track battery integration and aim to unlock at least 2 GW of new storage capacity by 2030. 

Globeleq, an independent power company in Africa, has completed a debt restructuring worth $37 million for its Aries and Konkoonsies solar plants in South Africa. The restructuring, led by Standard Bank, aims to reduce the cost of debt for the plants and lower wholesale electricity prices. It also allows for reinvestment in the power sector and accelerated equity distributions to the local communities and shareholders. Both plants have been operational since 2014 and became part of Globeleq's portfolio in 2019. The debt restructuring is expected to save around ZAR129 million over the remaining ten years of the power purchase agreement.Globeleq's CEO, Mike Scholey, highlighted the positive impact of the restructuring on Eskom and South African consumers, emphasizing the company's commitment to providing cost-effective renewable power. Sherrill Byrne, Executive Energy and Infrastructure Finance of Standard Bank, expressed satisfaction in partnering with Globeleq and reaffirmed the bank's commitment to the energy sector in South Africa. How does Globeleq's debt restructuring benefit South African consumers and Eskom? The debt restructuring by Globeleq will result in lower wholesale electricity prices for South African consumers. This means that consumers will pay less for their electricity bills, leading to potential cost savings for households and businesses. The reduced cost of debt for the Aries and Konkoonsies solar plants will allow Globeleq to offer more competitive electricity prices compared to traditional fossil fuel-based power generation. This promotes the adoption of renewable energy and contributes to a cleaner and more sustainable energy mix in South Africa. The reinvestment in the power sector made possible by the debt restructuring will lead to the development of additional renewable energy projects. This will increase the overall renewable energy capacity in the country, reducing reliance on fossil fuels and promoting energy diversification. The accelerated equity distributions to local communities and shareholders will have a positive socio-economic impact. Local communities will benefit from increased job opportunities and economic development, while shareholders will receive returns on their investments. The debt restructuring also benefits Eskom, the state-owned power utility in South Africa. By reducing the cost of debt for the Aries and Konkoonsies solar plants, Eskom can potentially lower its overall electricity generation costs. This can help alleviate the financial burden on Eskom and contribute to the stability of the country's power supply. The savings of ZAR129 million over the remaining ten years of the power purchase agreement will provide financial relief for both South African consumers and Eskom. This can potentially be reinvested in other areas, such as infrastructure development or social programs, benefiting the overall economy and society.

Energia, the renewable energy system of private equity shop Source Capital. Globeleq anticipates to get USD 19 countless financial debt funding from the Emerging

of green fuels, will certainly be considered in the medium and also long term, Globeleq stated. Its utmost objective is to sell the output of the complex to the

Globeleq, in partnership with African Rainbow Energy, has achieved commercial close on the Red Sands battery energy storage project in South Africa's Northern Cape province. The project, announced on June 27, 2025, is set to be Africa's largest standalone battery energy storage system, with a capacity of 153 MW and 612 MWh.The Red Sands project marks a significant milestone in renewable energy development on the continent, aiming to enhance energy reliability and support South Africa's transition to sustainable energy sources. This initiative underscores the growing investment in energy storage solutions to address power supply challenges in the region. How will the Red Sands project impact South Africa's energy reliability and sustainability? Increased Energy Reliability: The Red Sands project will provide a more stable and reliable power supply by storing excess energy generated from renewable sources and releasing it during peak demand periods or when generation is low. Grid Stability: By integrating a large-scale battery storage system, the project will help stabilize the grid, reducing the risk of blackouts and power outages that have been prevalent in South Africa. Support for Renewable Integration: The project will facilitate the integration of more renewable energy sources into the grid by managing the intermittent nature of solar and wind power, thus supporting South Africa's renewable energy targets. Reduction in Fossil Fuel Dependence: By enhancing the capacity to store renewable energy, the project will reduce reliance on fossil fuel-based power plants, contributing to lower carbon emissions and a cleaner energy mix. Economic Benefits: The development and operation of the Red Sands project will create jobs and stimulate economic growth in the Northern Cape region, while also potentially lowering electricity costs in the long term. Technological Advancement: The project represents a significant technological advancement in energy storage in Africa, setting a precedent for future projects and encouraging further investment in similar technologies. Energy Security: By diversifying the energy supply and increasing storage capacity, the project will enhance South Africa's energy security, making the country less vulnerable to external energy supply disruptions.

French renewables company Innovent SAS, Germany’s ib vogt, London-based Globeleq and Canada’s JCM Power also made the cut, along with Eswatini Green Energy

The Ikamva Consortium is led by Mainstream Renewable Power as well as Globeleq, Africa-focused independent power producer (IPP). The federal government

the Ikamva Consortium, led by Africa-focused independent power producer (IPP) Globeleq and also Mainstream Renewable Power. The construction of these projects is