LONDON, July 10, 2014 /PRNewswire/ -- Globeleq, the leading private power generation company in Africa has celebrated completion of another of its renewable energy projects in South Africa, the 138 MW Jeffreys Bay Wind Farm located between the towns of Jeffreys Bay and Humansdorp in the Eastern Cape. Globeleq is wholly owned by Actis, the pan emerging markets investor.
This follows celebrations in April to mark the start of operations at its two solar facilities, the 50 MW De Aar and 50 MW Droogfontein installations on the Northern Cape. All facilities are part of South Africa's renewable energy programme and are among the very first large scale renewable power plants to be built in the country.
With planned annual production of 460 GWh, it is expected Jeffreys Bay will avoid production of 420,000 tonnes of CO2 per year and provide a source of renewable electricity for nearly 100,000 average South African households.
Mikael Karlsson, Globeleq's CEO said: "The completion of these facilities is the result of a truly global partnership with the Government of South Africa and Eskom and the private sector of developers, investors, lenders, constructors, suppliers and the local community. It demonstrates significant support for independent private power producers in the region and indicates the sustainability of the renewable energy sector. As the leading African private power company, Globeleq is committed to pursue further investments in clean and reliable power for the region."
South Africa's renewable energy programme has prioritized job creation and skills development in order to sustain the industry over time. During the wind farm's construction, more than 700 people worked on the site, of which 45 percent were drawn from the local community. A percentage of the project's operational revenues will be reinvested into the local community through socio-economic and enterprise development programmes creating the skills needed to support the growth of the renewable energy industry in South Africa.
Globeleq is the majority shareholder in a consortium group, consisting of Mainstream, Old Mutual, Thebe, Enzani, Usizo and the Amadla Omoya Trust. Globeleq through its wholly owned South African subsidiary, manages the operation and commercial aspects of the Jeffreys Bay, De Aar and Droogfontein facilities. Mark Pickering, Managing Director of Globeleq South Africa said: "What an exciting time to be a part of this industry. In such a short period we have built an alternative source of energy which will provide ongoing benefits for the country and the industry alike."
Torbjorn Caesar, Co-head of Energy at Actis added: "We are delighted to reach this tangible milestone in diversifying South Africa's energy footprint and providing lower cost renewable energy for the country. Working closely with Globeleq and other portfolio companies, Actis continues to build sustainable energy businesses across emerging markets."
Globeleq is an experienced developer, owner and operator of independent power projects in the emerging markets, with a specific focus on Africa and the Americas. The company develops economically sustainable businesses that support the continued development of the electric power sector in these regions. Since the company's launch in 2002, it has participated in nearly 14,000 MWs in 27 countries, investing more than US$1.3 billion of equity across 44 different power projects. (www.globeleq.com)
Actis invests exclusively in the emerging markets with a growing portfolio of investments in Asia, Africa and Latin America; it currently has US$6.5 billion funds under management. Actis identifies investment opportunities in three areas: private equity, energy and real estate. Currently, it has energy investments in six countries in Africa, operating under the highest standards of environmental, social and governance standards in the industry and helping the UN define the code for responsible investing. Actis is proud to actively and positively grow the value of those companies in which it invests and in so doing, contribute to broader society.(www.act.is)
For more information, please visit: Globeleq