Globeleq Africa is an operating power company, actively developing energy projects across sub-Saharan Africa. It has eight major generating assets in Côte d’Ivoire, Cameroon, Kenya, South Africa and Tanzania with a total gross capacity of 1,095MW. The company develops electricity generating plants that support the continued development of the power sector in these regions and actively participates in the communities in which it operates. Globeleq Africa's fuel sources are solar/wind, natural gas and oil.
While capital is available for later stage development to construct power plants in Africa once plans and agreements are in place, it can take over five years for projects to reach this point and many projects fail. Consequently, there is a shortage of investors and companies addressing the entire value chain of power project development, especially the early stage, and too few new power projects are coming online.
By addressing the bottleneck at early-stage development, Norfund and CDC aim to bring more projects to the construction phase and expand access to reliable electricity in the region. If successful, the new strategy will result in over 5,000MW of new generating capacity.
Construction of the wind park at Jeffrey's Bay