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Globeleq Reaches Financial Close on South African Renewable Plants

Globeleq conclut un accord financier sur les centrales de production d’énergies renouvelables en Afrique du Sud

LONDON – 30 May, 2019: Globeleq has completed the acquisition in South Africa of four renewable generation plants and the asset management company from an affiliate of Brookfield Asset Management.

The addition of these entities strongly complements Globeleq’s existing renewable power business in South Africa where the company already owns, operates and manages 238MW of solar and wind projects. The solar assets acquired include Aries (11MW); Konkoonsies (11 MW) and Soutpan (31 MW) and the Klipheuwel wind farm (27 MW).  Acquisition of interests in the Boshof (66 MW) solar plant is expected to close in the coming weeks.  The projects originally reached commercial operations in 2014 and have a 20-year power purchase agreement with Eskom.

Paul Hanrahan, Globeleq’s CEO commented: “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.  This acquisition will deliver significant value for all stakeholders, including the local community.”

The transaction will unlock additional equity investments into these assets and will foster skills development and knowledge transfer within the local industry. The transaction has strong synergy with Globeleq’s existing assets and offers an opportunity for further operational improvements and as well as delivering improvements to the existing social and economic development programmes.

Standard Bank acted as the sole mandated underwriter and arranger of the acquisition debt facility.  Rentia van Tonder, Head: Power, CIB Standard Bank (South Africa) added: “The transaction is another step in growing a leading, sustainable African energy provider supported by a leading African bank.  Through our partnership with Globeleq, we are enabling growth on the continent, providing accessible and sustainable energy sources to the people of South Africa.”

 

LONDRES – 30 mai 2019 : Globeleq a conclu l’acquisition en Afrique du Sud de quatre centrales de production d’énergies renouvelables ainsi que de la société de gestion d’actifs issue d’une filiale de Brookfield Asset Management.

L’ajout de ces entités vient parfaitement compléter les activités existantes de Globeleq dans le domaine de l’énergie renouvelable en Afrique du Sud, pays où la société possède, exploite et gère déjà 238 MW de projets solaires et éoliens. Les actifs solaires acquis comprennent les parcs solaires Aries (11 MW), Konkoonsies (11 MW) et Soutpan (31 MW) ainsi que le parc éolien de Klipheuwel (27 MW). L’acquisition de participations dans la centrale solaire de Boshof (66 MW) devrait être finalisée dans les prochaines semaines. L’exploitation commerciale de ces projets a débutée en 2014 et ceux-ci ont fait l’objet d’un contrat d’achat d’électricité de 20 ans avec Eskom.

Paul Hanrahan, PDG de Globeleq, observe : “L’ajout de ces centrales renouvelables renforce la position de Globeleq en tant que leader du secteur de l’électricité en Afrique en élargissant notre implantation dans le secteur des énergies renouvelables à travers le continent. Cette acquisition apportera des avantages significatifs à toutes les parties prenantes, y compris la communauté locale.”

La transaction permettra de débloquer des investissements supplémentaires de capitaux propres dans ces actifs et favorisera le développement des compétences et le transfert des connaissances au sein de l’industrie locale. Cette transaction présente une forte synergie avec les actifs existants de Globeleq et donne la possibilité d’apporter de nouvelles améliorations opérationnelles ainsi que des améliorations aux programmes de développement économique et social existants.

Standard Bank a agi à titre d’unique assureur et arrangeur mandaté de la facilité de créance liée à l’acquisition. Rentia van Tonder, Responsable électricité, CIB Standard Bank (Afrique du Sud) ajoute : “Cette transaction constitue une nouvelle étape dans le développement d’un fournisseur africain d’énergie leader et durable, soutenue par une grande banque africaine. Grâce à notre partenariat avec Globeleq, nous favorisons la croissance sur le continent, en fournissant des sources d’énergie accessibles et durables aux populations d’Afrique du Sud.”

 

 

 

 

 

 

 

LONDON – 30 May, 2019: Globeleq has completed the acquisition in South Africa of four renewable generation plants and the asset management company from an affiliate of Brookfield Asset Management.

The addition of these entities strongly complements Globeleq’s existing renewable power business in South Africa where the company already owns, operates and manages 238MW of solar and wind projects. The solar assets acquired include Aries (11MW); Konkoonsies (11 MW) and Soutpan (31 MW) and the Klipheuwel wind farm (27 MW).  Acquisition of interests in the Boshof (66 MW) solar plant is expected to close in the coming weeks.  The projects originally reached commercial operations in 2014 and have a 20-year power purchase agreement with Eskom.

Paul Hanrahan, Globeleq’s CEO commented: “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.  This acquisition will deliver significant value for all stakeholders, including the local community.”

The transaction will unlock additional equity investments into these assets and will foster skills development and knowledge transfer within the local industry. The transaction has strong synergy with Globeleq’s existing assets and offers an opportunity for further operational improvements and as well as delivering improvements to the existing social and economic development programmes.

Standard Bank acted as the sole mandated underwriter and arranger of the acquisition debt facility.  Rentia van Tonder, Head: Power, CIB Standard Bank (South Africa) added: “The transaction is another step in growing a leading, sustainable African energy provider supported by a leading African bank.  Through our partnership with Globeleq, we are enabling growth on the continent, providing accessible and sustainable energy sources to the people of South Africa.”