Globeleq Africa

Globeleq Africa Image

Region

Africa

Country

Pan-Africa

Sector

Energy

Deal type

Replacement and expansion

Investment date

2001

Exit date

2015

Status date

Realised

Meeting new power demands

Globeleq Africa is an operating power company, which seeks to provide energy solutions across Africa. Launched in 2002, Globeleq became a power industry leader in growth markets by operating or acquiring interests in multiple power facilities totalling nearly 4,000MW of generation capacity in more than 20 countries.

In 2007, Globeleq successfully divested most of the operating assets in its portfolio, retaining only a number of assets in sub-Saharan Africa. Legal ownership of Globeleq (with its African asset base) was subsequently transferred in 2009 from CDC to Actis Infrastructure 2, with Actis becoming a controlling shareholder supporting the implementation of Globeleq’s business plan.

At the time of exit in 2015, Globeleq Africa operated power facilities with a total of 1,234MW of generating capacity across a portfolio of assets that included: Songas: a gas-fired generation project in Tanzania, Tsavo: a heavy fuel oil-fired power station in Kenya, Azito: a gas-fired power project in Côte d’Ivoire, Kribi: a gas-fired plant and Dibamba: a heavy fuel oil-fired plant in Cameroon and three renewable projects in South Africa: Jeffreys Bay Wind, De Aar Solar Power and Droogfontein Solar Power.