Globeleq adds four more plants to South African renewables portfolio
Africa-focused independent power producer Globeleq announced on Thursday that it had finalised the acquisition of four more South African renewable-energy plants, adding to an existing 238 MW wind and solar portfolio in the country.
The plants and the asset management company were purchased from an affiliate of Brookfield Asset Management, which initiated a limited sale process for its South African assets.
Globeleq was granted exclusivity on the deal in July last year and financial close for the four plants was reached in May this year.
The transaction value was not disclosed, but Globeleq confirmed that it included three solar photovoltaic plants – Aries (11 MW); Konkoonsies (11 MW) and Soutpan (31 MW) – and the 27 MW Klipheuwel wind farm.
Standard Bank acted as the sole mandated underwriter and arranger of the acquisition debt facility.
The company also reported that it expected to acquire interests in the 66 MW Boshof solar plant in the coming weeks.
All of the power stations entered into commercial operation during 2014 and have 20-year power purchase agreements with South Africa’s State-owned power utility, Eskom.
“The addition of these renewable plants further establishes Globeleq’s position as a power sector leader in Africa by expanding our renewable energy footprint across the continent,” CEO Paul Hanrahan said in a statement.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation