Globeleq’s Preferred Bidder Status Boosts Energy Storage Development
In a recent breakthrough for energy sustainability, Globeleq has emerged as a frontrunner in South Africa’s energy sector. As a Preferred Bidder in the ESIPPPP, this marks a significant step for the Red Sands project in the Northern Cape, solidifying Globeleq’s position as a pioneer in Africa’s independent power production. Globeleq’s significant backing from British International Investment (BII), reflecting the UK Government’s developmental finance endeavors, serves as a cornerstone for the project’s realization.
The Role of Battery Storage in Renewable Energy Generation
The potential of battery storage systems is immense, providing a stable power supply from renewable sources, often plagued by irregularities. South Africa, amid a global upsurge in demand for these systems, is harnessing this technology to alleviate its energy woes and further its climate change efforts. The strategic deployment of energy storage not only addresses the intermittency of wind and solar power but also bridges the gap between surplus generation and peak demand, mitigating the persisting issue of load-shedding.
Red Sands Project: A Model for South Africa’s Clean Energy Transition
South Africa’s commitment to an eco-conscious future is embodied in the R5.7 billion (US$300 million) Red Sands investment. It stands as a landmark project under the Just Energy Transition Partnership, an initiative cemented at COP26. Pioneered by African Green Ventures and backed by Magnora ASA, the project is poised to transform approximately 5 hectares of the Northern Cape, utilizing the Eskom Garona substation to deliver its robust network support capabilities.
Anticipated Investment and Construction of the Red Sands Project
Engaging with world-renowned suppliers, Globeleq places an estimated US$300 million tag on the project’s development, with a projected construction span of 24 months from the financial close, anticipated to occur in 2024. As Africa’s largest independent power producer, Globeleq has a sizeable footprint on the continent, with operations across multiple countries making substantial contributions to Africa’s energy diversity.
Globeleq’s Expanding Portfolio in Battery Energy Storage Solutions
Red Sands will mark Globeleq’s first foray into Battery Energy Storage Solutions (BESS) in South Africa, adding to its existing portfolio that includes a revolutionary solar and BESS plant in Mozambique. Spearheading a plethora of BESS projects in Africa, the company already boasts ownership and operational capabilities of various renewable plants, presented with a combined generating capacity of 384 MW in South Africa.
Leadership Perspectives on the Red Sands Initiative
Mike Scholey, CEO of Globeleq, expressed his excitement about the Preferred Bidder status and the project’s significance in meeting South Africa’s energy demand and in the broader African context. His sentiments were echoed by Antony Phillipson, the British High Commissioner to South Africa, who hailed this development as a testament to the UK’s support in addressing South Africa’s energy challenges and fulfilling its low-carbon objectives.
