Month: January 2024

Shining a New Light on Renewable Energy: Globeleq’s Strategic Acquisition of Mozambique’s Central Solar de Mocuba

In a move that underscores its commitment to renewable energy in Africa, Globeleq has announced a significant expansion of its solar energy portfolio with the acquisition of a majority stake in the Central Solar de Mocuba (Mocuba) solar farm in Mozambique. This strategic purchase sees Globeleq taking the helm with a 52.5% share from Scatec ASA and a further 22.5% from KLP Norfund. Meanwhile, Electricidade de Moçambique (EDM), Mozambique’s national power company, continues to hold a pivotal 25% stake in the plant, exemplifying a collaborative effort in the nation’s energy sector.

The Mocuba solar farm, boasting a substantial 41MW capacity, is not just a power plant; it’s a beacon of Globeleq’s growing solar footprint in Africa, which now proudly stands at nearly 400MW, spanning South Africa, Egypt, Kenya, and Mozambique. Mike Scholey, the CEO of Globeleq, expressed his enthusiasm about this venture, stating, “We are steadily building a major business in Mozambique in solar, wind, and gas-to-power, with Mocuba being the latest feather in our cap.”

He further added, “Mocuba perfectly aligns with our pan-African solar portfolio, and I am thrilled to welcome our new colleagues from the plant to Globeleq.” The year 2024 is shaping up to be a landmark year for Globeleq in Mozambique. The Temane gas-to-power plant is on track for commercial operations, and the Namaacha project, poised to be the country’s first wind power project, is expected to reach financial closure by mid-2024.

This move by Globeleq not only diversifies their energy portfolio but also plays a crucial role in spearheading sustainable and renewable energy initiatives in Africa, paving the way for a greener and more sustainable future.

Credits: [Image: Pixabay]

 Harnessing the Sun: LONGi’s Ambitious Leap into Romania’s Solar Future

A Solar Revolution is Brewing: LONGi, a titan in the solar panel industry, has inked a game-changing 576MW sales agreement with Nofar Energy Romania. This deal is not just about numbers; it’s a bold statement in the world of renewable energy, underscoring a commitment to a greener, more sustainable future. The focus? A high-stakes PV project in Romania that’s shrouded in intrigue and promise.

Hi-MO 7: The Future of Solar Technology: At the heart of this endeavor are LONGi’s cutting-edge Hi-MO 7 modules. These aren’t just any solar panels; they’re the pinnacle of solar innovation, designed to push the boundaries of efficiency and performance. The project, set to break ground in 2024 and become operational by 2025, isn’t just a construction project—it’s a beacon of future energy solutions.

A Commitment to Sustainability: LONGi isn’t just playing by the rules; they’re setting new standards. Aligning with rigorous Environmental, Social, and Governance (ESG) standards, this agreement is more than a transaction—it’s a testament to LONGi’s dedication to responsible and sustainable practices, particularly in the supply chain.

Banking on Green Futures: The culmination of this deal was catalyzed by a nod of approval from a leading banking corporation. This isn’t just a financial endorsement; it’s a seal of approval for ESG-compliant bank financing. LONGi and Nofar Energy Romania are not just building solar projects; they’re constructing a framework for sustainable finance, meeting the exacting standards set by the banking world.

Voices of Vision: Mirel Jarnea, LONGi’s Sales Manager in Romania, captures the essence of this partnership: “This strategic alliance with Nofar Energy Romania isn’t just a business move; it’s a stride towards advancing sustainable energy solutions in Romania. LONGi stands at the forefront of this revolution, bringing our high-efficiency panels and a vision for a greener future.”

Echoing this sentiment, Favi Stelian, CEO of Nofar Energy Romania, highlights the shared journey: “Our agreement is more than a contract; it’s a shared dream, a joint venture towards a sustainable energy future in Romania. We’re not just looking forward to this project; we’re excited about the path we’re paving together.”

The Bottom Line: The LONGi and Nofar Energy Romania partnership is a narrative of innovation, sustainability, and forward-thinking. It’s not just about harnessing solar energy; it’s about shaping the future of energy consumption in Romania and setting a global example. This story isn’t just unfolding; it’s electrifying the very fabric of the renewable energy landscape.

Credits: [Image: Pixabay]