Page 7 - AfrElec Week 02 2021

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Globeleq takes over Nigerian generator

NIGERIA AFRICA-FOCUSED IPP Globeleq is to take a introducing solar generation elements.
74% majority equity stake in Nigeria’s CPGNL Fabio Borba, managing director at Globeleq,
Ltd (CPGNL), which will be rebranded as Glo- who led the transaction, noted: “This investment
beleq Power Solutions Nigeria Ltd. demonstrates our commitment to look beyond
The current owner of the business, the Clean the conventional generation methods and pro-
Energy Group, will retain the remaining 26% vide cleaner, more reliable electricity solutions
shares. directly to industries in the country. This all
CPGNL has a portfolio of assets which serve helps to produce a flow of capital that supports
commercial and industrial customers mostly in jobs, improves lives and aids transformation of
the south-west of Nigeria. the economy.”
These include 12 operating plants with a total Globeleq’s CEO, Mike Scholey, added:
capacity of 58 MW, three plants under construc- “Commercial and industrial manufacturers will
tion (9 MW total capacity), as well as approxi- have more sustainable options to connect their
mately 100 MW of projects in development. businesses. Our investment will drive growth
The local team’s depth of knowledge will com- and support the government’s industrialisation
plement the existing expertise at Globeleq and agenda. We look forward to welcoming the new
provides an immediate operational presence in team into the company and bringing together the
the country. best of our organisations.”
Globeleq operates 1,300 MW of both fossil Dipi Khilnani, chairman of Clean Energy
fuel and renewable capacity at eight locations Holdings, added: “We are very excited about
across Africa. Globeleq’s entry into the business. We are con-
Globeleq’s entry will provide additional fident we will deliver competitive, environmen-
investment to develop and grow the existing tally positive solutions to the growing demand in
pipeline of projects, drive operational excellence Nigeria, particularly given Globeleq’s extensive
and set up the business towards a low-carbon experience and track record across the conti-
future. Upcoming technical improvements to nent. As a business we have always had a strong
the existing operations and implementing new commitment to the development of Nigeria and
technology will focus on efficiency and reduc- this investment significantly strengthens our
ing the carbon footprint by displacing diesel and capability.”™

HYDRO

GERD talks fail again

EGYPT THE latest talks on the Grand Ethiopian Renais- three countries closer.
sance Dam (GERD) have again broken down, The three parties have held several rounds of
with the Egyptian side blaming differences negotiations over the past years, but have ulti-
on how to resume talks and on the procedural mately failed to reach an agreement.
aspects related to managing the negotiation The construction of the dam, which began
process. in 2011, is considered to be one of Egypt’s most
The Egyptian Foreign Ministry said that serious water issues.
Cairo had stressed during talks on January 10 Egypt, which relies considerably on fresh
its readiness to engage seriously with Sudan and water from the Nile, has voiced fears that the
Ethiopia in a bid to reach a binding legal agree- GERD would negatively affect the country’s
ment on the filling and operation of the GERD, water supply, and has insisted that measures be
Egyptian media reported. put in place to protect downstream countries in
Cairo said that Sudan had proposed ask- case of drought during the dam’s filling process.
ing observers from the African Union (AU) to Ethiopia, on the other hand, has stressed the
devise new procedures for the talks and to devise importance of the project to bolster its economy,
an agreement on GERD. Both Egypt and Ethio- where more than half of the population currently
pia opposed bringing in AU experts. live without access to electricity.
“The African Union experts are not spe- Sudan is somewhat caught in the middle of
cialists in the technical and engineering fields the conflicting interests of Egypt and Ethiopia.
related to water resources management and dam There is potential for the country to develop fur-
operating,” the statement said. ther with the GERD’s operation, but government
Khartoum has also called for a change in officials worry that it could also threaten existing
the negotiation methodology, granting the AU dams.™
experts a greater role in bringing the views of the

Week 02 14•January•2021 www. NEWSBASE .com P7