Globeleq

company 1 Deal 2 Partners

Globeleq is a leading independent power producer (IPP) and developer focused on the power sector in Africa. They develop, own, and operate power generation facilities, primarily utilizing thermal, solar, wind, and geothermal technologies, with a strong commitment to sustainable development and local communities. Their strategy involves expanding their portfolio of operational and under-development assets across the continent.

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Founded 2002 500 employees Parent: British International Investment (BII) and Norfund (jointly)

Independent Power Producer (IPP)DeveloperOperatorInvestor

Strategic Overview

Primary focus on developing and operating power generation assets across Africa.
Committed to supporting Africa's energy transition through a mix of renewable energy and efficient thermal power solutions.
Long-term owner and operator, emphasizing sustainable development and local community engagement.
Backed by development finance institutions British International Investment (BII) and Norfund, providing strong financial and strategic support for growth.

Deal History (1)

Globeleq acquires 51% stake in Lunsemfwa Hydro Power Company

Buyer Hydro Zambia Mar 5, 2026

Deal Activity from Public Sources

Globeleq acquires a majority stake in the 41MW Malindi Solar project in Kenya

Acquisition Solar PV Kenya March 2024 41 MW

Globeleq reaches financial close for the 40MW first phase of the Menengai Geothermal project in Kenya

Financing Geothermal Kenya February 2024 40 MW

Globeleq acquires a majority stake in the 450MW Central Térmica de Temane (CTT) gas-fired power plant in Mozambique

Acquisition Gas-Fired Power Mozambique January 2024 450 MW

Globeleq signs a Joint Development Agreement for a 35MW solar PV and 15MWh battery storage project in Ghana

Joint Venture Solar PV, Battery Storage Ghana December 2023 35 MW

Globeleq acquires a majority stake in the 100MW Redstone Concentrated Solar Power (CSP) project in South Africa

Acquisition Concentrated Solar Power (CSP) South Africa October 2023 100 MW

Investment Focus

Technologies

Hydro1

Geography

Zambia1

Key People

Mike Scholey

CEO

Jonathan Hoffman

Chief Development Officer

Sechaba Moletsane

Chief Operating Officer

Arif Mohiuddin

Chief Financial Officer

Track Record

1,500

MW Total

Years Active

Notable projects: Azito (Côte d'Ivoire), Kribi (Cameroon), Malindi Solar (Kenya), Menengai Geothermal (Kenya), Redstone CSP (South Africa), Central Térmica de Temane (Mozambique)

Detailed Analysis

Technologies

Gas-fired PowerSolar PVOnshore WindGeothermalConcentrated Solar Power (CSP)Battery Storage

Sectors

UtilitiesEnergy Transition

Geographies

AfricaKenyaMozambiqueSouth AfricaGhanaCôte d'IvoireCameroonTanzaniaEgyptDemocratic Republic of Congo

Deal Stage

GreenfieldBrownfieldOperating

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