{"id":13795,"date":"2023-07-12T10:03:39","date_gmt":"2023-07-12T10:03:39","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13795"},"modified":"2023-07-12T10:03:39","modified_gmt":"2023-07-12T10:03:39","slug":"south-africa-first-sale-as-magnora-globeleq-join-forces-on-battery-pv-project","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-first-sale-as-magnora-globeleq-join-forces-on-battery-pv-project\/","title":{"rendered":"SOUTH AFRICA: First sale as Magnora & Globeleq Join Forces on Battery & PV project"},"content":{"rendered":"\n
Magnora ASA and Globeleq Ltd. have signed and executed an agreement that paves the way for developing large-scale battery storage and renewable energy projects in South Africa. Globeleq is acquiring a permitted site from Magnora and will develop the project further. The agreement provides for an upfront payment, with additional payments on condition Globeleq reaches certain commercial and technical milestones. \n \nThe site has favorable conditions for renewable energy and the area is targeted \nfor grid development. Magnora has several remaining projects in this cluster. \nThe projects are in mid-to-late-stage development with significant potential for \nbattery storage, solar PV and wind. Globeleq and Magnora have agreed to consider \nways to jointly commercialize these adjacent assets and to partner more widely \nin South Africa. \n \nMagnora entered the South African renewable energy market in 2021 through the \nacquisition of an 850 MW project portfolio. One year later, Magnora acquired \nAfrican Green Ventures (AGV), a renewable project development company. The \nportfolio of projects under active development in South Africa currently \nconsists of some 2000 MW. AGV sources assets and develops projects from \ngreenfield to ready-to-bid or -build. \n \n\"South Africa needs a lot of renewable energy for its basic economic need. We \nsee a great potential in the South African market over the next 5-10 years. \nMagnora aims to grow the team and the portfolio significantly in the next few \nyears,\" says Erik Sneve, CEO of Magnora. \"The agreement with Globeleq provides \nboth proof-of-concept and proof-of-market for our South African operation. The \nfact that Magnora will recuperate a significant portion of our investments in \nSouth Africa, is a nice added value.\"  \n \nJonathan Hoffman, Chief Development Officer for Globeleq commented today, \"We \nare excited by the potential of this project within the South African renewables \nsector. Renewable power and battery storage have a very significant part to play \nin alleviating the energy crisis in South Africa and can do so speedily and \nefficiently, and we are looking forward to developing this and other projects \nwith Magnora.\" \n <\/pre>\n","protected":false},"excerpt":{"rendered":"
Magnora ASA and Globeleq Ltd. have signed and executed an agreement that paves the way for developing large-scale battery storage and renewable energy projects in South Africa. Globeleq is acquiring … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,4746,4748,7445],"tags":[1023,9070,2955,5318],"class_list":["post-13795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-renewables-2","category-solar","category-southern-africa","tag-globeleq","tag-magnora","tag-renewable-energy","tag-solar","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/Solar-Upington.jpg?fit=750%2C500&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3Av","jetpack-related-posts":[{"id":11440,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-cuamba-solar-pv-and-energy-storage-reaches-financial-close\/","url_meta":{"origin":13795,"position":0},"title":"MOZAMBIQUE: Cuamba Solar Pv And Energy Storage Reaches Financial Close","author":"","date":"December 21, 2021","format":false,"excerpt":"Globeleq, its project partners, Source Energia and Electricidade de Mo\u00e7ambique (EDM), the Mozambican national power utility, have reached financial close on the 19MWp (15MWac) Cuamba Solar PV plant with a 2MW (7MWh) energy storage system. The US$36 million project located in the Cuamba district, Niassa province (about 550 km west\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Cuamba-Solar-plant.jpg?fit=1200%2C516&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Cuamba-Solar-plant.jpg?fit=1200%2C516&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Cuamba-Solar-plant.jpg?fit=1200%2C516&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Cuamba-Solar-plant.jpg?fit=1200%2C516&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Cuamba-Solar-plant.jpg?fit=1200%2C516&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11355,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-globeleq-edm-and-sasol-announces-financial-close-of-the-central-termica-de-temane-power-project\/","url_meta":{"origin":13795,"position":1},"title":"MOZAMBIQUE: Globeleq, EDM and Sasol, Announces Financial Close of the Central Termica de Temane Power Project","author":"","date":"December 9, 2021","format":false,"excerpt":"Debt financing of the US$652.3 million project is being provided by IFC, together with its \"B\" loan participants FMO and Emerging Africa Infrastructure Fund (together US$253.5 million), US International Development Finance Corporation (DFC) (approximately US$191.5 million) and the OPEC Fund for International Development (OPEC Fund) (US$50 million). The Multilateral Investment\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11060,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-mainstream-projects-to-deliver-1-27gw-of-new-clean-power\/","url_meta":{"origin":13795,"position":2},"title":"South Africa: Mainstream Projects to Deliver 1.27gw of New Clean Power","author":"","date":"October 30, 2021","format":false,"excerpt":"Global wind and solar company, Mainstream Renewable Power, today announces that 12 of its projects have won preferred bidder status in Round 5 of South Africa\u2019s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The wind and solar projects, which have a total capacity of 1.27 GW, represent half of\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/South-Africa-Energy.jpg?fit=1000%2C373&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/South-Africa-Energy.jpg?fit=1000%2C373&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/South-Africa-Energy.jpg?fit=1000%2C373&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/South-Africa-Energy.jpg?fit=1000%2C373&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11679,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-globeleqs-malindi-solar-plant-is-generating-clean-energy-to-the-national-grid\/","url_meta":{"origin":13795,"position":3},"title":"KENYA: Globeleq’s Malindi Solar Plant is Generating Clean Energy to the National Grid","author":"","date":"January 24, 2022","format":false,"excerpt":"Globeleq and its project partner, Africa Energy Development Corporation (AEDC), has indicated that its 52MWp Malindi Solar photovoltaic (PV) plant has been exporting 40 MWac of power into the national grid since 14 December 2021.\u00a0 The power plant is delivering enough clean and renewable power to supply approximately 250,000 residential\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12106,"url":"https:\/\/www.oilnewskenya.com\/index.php\/u-s-government-supports-newly-launched-temane-energy-projects\/","url_meta":{"origin":13795,"position":4},"title":"MOZAMBIQUE: U.S. Government Supports Newly Launched Temane Energy Projects","author":"","date":"March 29, 2022","format":false,"excerpt":"On March 28, 2022, in Vilanculos, Inhambane, the U.S. Government participated in the groundbreaking of the Central Termica de Temane (CTT) power plant and the Temane Transmission Project (TTP).\u00a0 These two energy projects will help to strengthen Mozambique\u2019s energy security, boost access to affordable energy, and support Mozambique\u2019s contributions to\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/03\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/03\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/03\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/03\/Mozambique-Temane-Power-Project.jpg?fit=700%2C491&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":330,"url":"https:\/\/www.oilnewskenya.com\/index.php\/factfile-songo-songo-gas-development-and-power-generation-project-tanzania\/","url_meta":{"origin":13795,"position":5},"title":"Factfile: Songo Songo Gas Development and Power-Generation Project, Tanzania","author":"Samuel Kamau Mbote","date":"January 6, 2014","format":false,"excerpt":"The Songo Songo gas field is located on and offshore Songo Songo island, about 15km from the Tanzanian mainland and 200km south of the commercial capital, Dar es Salaam. The project serves two onshore and three offshore natural gas wells at the island, the gas from the wells being piped\u2026","rel":"","context":"In "Elsewhere in Africa"","block_context":{"text":"Elsewhere in Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/elsewhere-in-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/1-songo-songo.jpg?fit=400%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13795"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13795\/revisions"}],"predecessor-version":[{"id":13797,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13795\/revisions\/13797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13796"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}