German renewable energy project development company Cronimet Mining Power Solutions has merged with Namibia’s largest privately held group of companies Ohlthaver & List Group (O&L).
O&L acquired a majority stake in Cronimet from exiting major shareholder Cronimet Mining Energy, which is based in Switzerland.
O&L had partnered in joint ventures with Cronimet at different times over the last decade.
In cementing the corporate merger, the companies have announced a new trade name and brand called O&L Nexentury.
“With this merger, the two companies have aligned their renewable energy and sustainable infrastructure business models to expand development and asset aggregation throughout Africa and into Europe,” says O&L Nexentury MD Rollie Armstrong.
“Capitalised with O&L Group’s rich Namibian history, its corporate culture and its financial muscle and combined with what was Cronimet’s project development expertise, team diversity and record, the new O&L Nexentury is set to be a major international force,” he adds.
Cronimet MD Steffen Kammerer says the company is thrilled to be officially part of the O&L family after many successful years as partners.
O&L Nexentury will continue to develop, build, finance, own and operate utility-scale solar photovoltaic power plants across sub-Saharan Africa.