Independent power producer Globeleq will acquire the majority shareholding in six of SA’s renewable energy projects as part of its continued expansion of its renewable energy portfolio throughout the continent. The acquisition, the price of which Globeleq would not disclose, will result in the power producer acquiring six assets in SA — five solar projects and one wind farm — from Brookfield Asset Managers, an alternative asset manager based in Canada and listed on the New York Stock Exchange. The acquisition will add 178MW to Globeleq’s existing 238MW of solar and wind projects in SA to control a total of 416MW, enough to power the whole of Vereeniging in the Vaal Triangle of Gauteng. For comparison, SA’s energy blueprint, the Integrated Resource Plan, has a target of 17,800MW of energy to be produced from renewable energy sources by 2030. Eskom reports national peak demand at just below 33,700MW. The six projects were part of rounds one and two of the government’s renewable energy...

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