Nigeria: Globeleq gains foothold with C&I company acquisition

Issue 431 - 28 Jan 2021 | 4 minute read

UK-based developer Globeleq announced this month that it has acquired a 74% stake in Nigerian commercial and industrial (C&I) power company CPGNL. CGPNL was owned by Clean Energy Group, which will retain 26% of the company, and used equipment supplied by Cummins. The company will be rebranded as Globeleq Power Solutions Nigeria Ltd (GPSN). GPSN has a portfolio of 12 operating gas power plants with combined capacity of 58MW in the south of the country.

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