Industry

Creating employment pathways for the youth of South Africa

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The diversified mining and renewable energy solutions company, Exxaro Resources, has continued to power better lives through a partnership it has established with the youth employment service (YES) South Africa

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Abengoa passes all contractual tests for the Agadir desalination plant

Adagair 10 june desalination plantAbengoa, an international company that applies innovative technology solutions for sustainable development in the infrastructure, energy and water sectors, has successfully passed all contractual tests for the Agadir desalination plant, Morocco

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GLTC opens new branch in South Africa

GLTC has opened a dedicated branch in George to serve the growing Garden Route marketGoscor Lift Truck Company (GLTC) has commissioned a new branch in George, the second largest city in the Western Cape province of South Africa

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PayU expands its presence in Africa

Paypal online paymentPayU, the leading online payment service provider operating in 50 emerging markets, has announced that it is strengthening its foothold in Africa with expansion into Ghana and a number of strategic product updates such as Payflex in South Africa, as well as both Scan to Pay and Pay by USSD in Nigeria

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UAE and Egypt’s consortium to buy African renewables firm Lekela Power

Lekela Power 10 MayA consortium of UAE-based Masdar and Egypt’s Infinity Energy is set to buy a majority stake in Lekela Power from private equity vehicle Actis


According to a report from Reuters, the value of the sale could be worth close to US$1bn.

The deal would provide Masdar with its first assets in southern Africa.

Lekela Power has a portfolio of more than 1GW of wind assets across South Africa, Egypt and Senegal in addition to a 225MW wind project in Ghana. It had begun commercial operations of its 250MW West Bakr wind project in Egypt.

The West Bakr wind farm will produce more than 1,000GWh of renewable electricity every year, which will save more than 530,000 tonnes of carbon dioxide annually.

Lekela has developed the project under a build, own, operate (BOO) model. The developer received financing from the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the US’ Development Finance Corporation.

Completion of the project has increased Egypt’s installed wind capacity by 18%.

Actis has put BioTherm Energy (BTE) Renewables, another Africa-focused renewable company, up for sale as well, Reuters reported.

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