South Africa: Globeleq increases shareholding in three projects

UK-based developer Globeleq announced on 30 November that it had acquired Mainstream Renewable Power’s shareholding in three South African power plants: the 138MW Jeffreys Bay wind farm and the 50MW De Aar and Droogfontein solar photovoltaic plants. Globeleq said it was funding the transaction using a combination of internal funds and credit facilities. The projects were selected in the first round of the renewable energy independent power procurement programme and were initially developed by Mainstream.