More Renewable Energy for Globeleq

Globeleq’s mission to become the leading independent power generation company in Africa was further realised on 7 December 2011.  The company was awarded preferred bidder status on four wind and solar projects with a total generation capacity of approximately 375 MW by the South African Department of Energy, as part of consortiums of bidders for the first round of the Renewable Energy IPP Program.

The projects are:

• 139 MW Cookhouse wind project (in Africa Clean Energy Development consortium)
• 138 MW Jeffrey’s Bay wind project (together  with Mainstream Renewable Power)
• 50 MW De Aar Solar (together with Mainstream Renewable Power)
• 50 MW Droogfontein Solar (together with Mainstream Renewable Power)

Globeleq’s CEO, Mikael Karlsson commented on the excellent news: 

“We believe that power generation using free and natural fuel sources such as the sun and wind to generate clean and sustainable electricity is a realistic energy solution for the country’s growing energy demand.  Drawing on Globeleq’s extensive experience at developing, constructing and operating various power generation technologies, including renewables, we will ensure the economic and social benefits to the local communities are fully realized.  This is an exciting step forward for the South African energy industry and further reinforces Globeleq’s commitment to be the leading energy company in Africa.”

Financial closing of the projects is expected in the first half of 2012 with construction to commence soon afterwards.