Globeleq

Name

Globeleq

Legal name

Globeleq Africa Limited

Website

https://globeleq.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Independent Power Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Operations, Maintenance & Asset Management (O&M, Vegetation, Spares, SCADA) (EUACAGAH), Contracted Wind Power Generation (PPA/CFD/FiT-backed) (EUACAFAJ), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Independent power producer
• Renewable energy generation
• Utility-scale solar power
• Battery energy storage
• Power purchase agreements

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Power Purchase Agreements (PPAs): Long-term power purchase agreements with national utilities (ZESCO, Kenya Power, EDM) and private off-takers (Copperbelt Energy Corporation, Jubilee Metals). Revenue is recurring based on capacity/energy supplied.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Globeleq develops, builds, owns, and operates utility-scale power generation plants across Africa, supplying electricity to national utilities and large private off-takers through long-term power purchase agreements. Its diversified portfolio spans solar PV, wind, hydro, geothermal, gas-fired, and battery energy storage technologies across more than 14 locations in countries including South Africa, Mozambique, Zambia, Kenya, Egypt, Cameroon, and Côte d'Ivoire.

Product overview

Globeleq is a leading independent power producer in Africa operating a diversified portfolio of power projects across multiple technologies. The company owns, operates, develops and invests in utility-scale power generation assets including gas-fired plants (Azito in Côte d'Ivoire at 713MW, Kribi in Cameroon at 216MW, Dibamba in Cameroon at 88MW, Temane in Mozambique at 450MW), solar PV plants (ARC Solar and Winnergy in Egypt, Malindi in Kenya, Mocuba in Mozambique, Cuamba solar+BESS in Mozambique, multiple plants in South Africa including Soutpan, Konkoonsies, Droogfontein, De Aar, Boshof, Aries), wind farms (Jeffreys Bay and Klipheuwel in South Africa, Namaacha in Mozambique), geothermal (Menengai in Kenya), battery energy storage (Red Sands BESS - Africa's largest standalone BESS at 153MW/612MWh in South Africa), and hydropower (Lunsemfwa and Mulungushi in Zambia). In Zambia, Globeleq operates the Leopards Hill hybrid solar+storage project (250MWp + 150MW/600MWh BESS) and Kafue Solar (56MWp). The company also has projects in development including LHPC Solar (27MWp) and growth pipeline of 200MWp solar and hydropower expansions in Zambia. Globeleq holds 70% ownership by British International Investment and 30% by Norfund.

Differentiator

Problem solved

Functional benefit

Products and services

• Azito Power Plant 713 MW gas-fired power plant located in Abidjan, Côte d'Ivoire, supplying electricity to the national grid.
• Kribi Power 216 MW gas-fired power plant located in Kribi, Cameroon.
• Dibamba Power 88 MW gas-fired power plant located in Douala, Cameroon.
• ARC Solar 66 MWp solar PV plant in Benban Solar Park near Aswan, Egypt, acquired in 2021.
• Winnergy Solar 25 MWp solar PV plant in Benban, Egypt, acquired in 2024 with a 48.3% equity stake.
• Malindi Solar 52 MWp solar PV plant in Malindi, Kenya, exporting 40 MWac to the national grid.
• Menengai Geothermal Plant 35 MW geothermal power plant in Menengai, Kenya, Globeleq's first geothermal plant.
• Mocuba Solar 41 MW solar PV plant on 126 hectares in Mocuba, Mozambique, acquired in 2023 with 75% stake.
• Cuamba Solar + BESS 19 MWp solar PV plant with 7 MWh battery energy storage in Cuamba, Mozambique, representing Globeleq's first combined solar and battery storage plant.
• Temane 450 MW Gas Project 450 MW gas-fired power plant in Temane, Mozambique, a Paris-aligned project targeting 2027 commercial operations.
• Namaacha Wind 120 MW wind project on 855 hectares close to Namaacha, Mozambique, planned to connect to Boane substation; Mozambique's first utility-scale wind farm.
• Soutpan Solar Power 31 MW solar PV plant near Vivo, South Africa.
• Konkoonsies Solar Power 11 MW solar PV plant near Pofadder, South Africa.
• Klipheuwel Wind Farm 27 MW wind farm near Caledon, South Africa, partnered with ZX Lidars for wind measurement technology deployment.
• Jeffreys Bay Wind Farm 138 MW wind farm in Jeffreys Bay, South Africa.
• Droogfontein Solar Power 50 MW solar PV plant with 337 MWh battery storage in Kimberley, South Africa.
• De Aar Solar Power 50 MW solar PV plant in De Aar, South Africa.
• Boshof Solar Power 66 MW solar PV plant in Boshof, South Africa.
• Aries Solar Power 11 MW solar PV plant in Kenhardt, South Africa.
• Red Sands ESIPPPP Project 153 MW / 612 MWh battery energy storage project near Upington, South Africa, Africa's largest standalone BESS facility, which won the IJ Global BESS Deal of the Year Africa 2025 award.
• LHPC Solar 27 MWp solar PV project under construction in Kabwe, Zambia, part of the Lunsemfwa Hydro Power Company acquisition.
• Lunsemfwa Hydropower Station 24 MW hydropower plant in Kabwe, Zambia, part of the LHPC portfolio and one of two hydroelectric plants operated by Zambia's first Independent Power Producer.
• Mulungushi Hydropower Plant 32 MW hydropower station in Kabwe, Zambia, forming a cascade with the Lunsemfwa plant and connected to a dedicated transmission network supporting the Southern African Power Pool.
• Leopards Hill Solar and Battery Project 250 MWp solar PV plant combined with 150 MW / 600 MWh battery storage system near Lusaka, Zambia, representing Zambia's largest hybrid renewable energy development.
• Kafue Solar Plant 56 MWp PV project (40 MWac contracted) in Kafue, Zambia, part of the GET FiT Zambia programme.

Quantifiable outcome

• 1,660 MW operational capacity across 14+ locations
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Leopard Investment CompanycoreStrategic or Co-development Partner · 21 April 2026Partnership on Leopards Hill project (250 MWp solar + 150 MW/600 MWh BESS). Zambia's oldest agricultural company hosting energy infrastructure at Kyindu Ranch.
• Lunsemfwa Hydro Power Company (LHPC)coreStrategic or Co-development Partner · 3 March 2026Globeleq acquired 51% equity stake from Norfund. LHPC operates 56 MW hydro capacity and is constructing 27 MWp solar. Enables entry into Zambian market and Southern African Power Pool trading.
• African Rainbow EnergycoreStrategic or Co-development Partner · 1 July 2025Project partner on Red Sands BESS (153 MW / 612 MWh), Africa's largest standalone battery energy storage project near Upington, South Africa.
• Source EnergiacoreStrategic or Co-development Partner · 1 January 2024Partner on multiple Mozambique projects including Cuamba Solar+BESS, Temane gas plant, and Namaacha wind project development.
• Geothermal Development Company (GDC)coreStrategic or Co-development Partner · 8 June 2023Partnership with Kenyan state-owned GDC for Menengai geothermal project. GDC supplies steam under 25-year agreement; Globeleq operates and maintains the 35MW power plant.
• Toyota Tsusho CorporationmajorImplementation/ SI/ Consulting Partner · 9 February 2023EPC contractor for Menengai geothermal project in Kenya. Japanese trading company providing construction services.
• SOLA Group / Aurora Power SolutionscoreStrategic or Co-development Partner · 8 April 2019Consortium partner awarded 40 MWAC solar projects in Zambia under GET FiT Programme. Joint development of Kafue Solar project.

Scale indicators7 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• Engie Africa: French utility with renewable generation and BESS projects across Morocco, Egypt and South Africa; competes with Globeleq for utility PPAs and C&I offtakers across Africa.
• ACWA Power: Large Middle East-headquartered IPP with growing African footprint in solar, wind and gas; competes for utility-scale tenders across the same geographies as Globeleq.
• EDF Renewables: Global renewable developer with significant South Africa presence via Envusa Energy JV with Anglo American, overlapping with Globeleq's mining-customer PPA strategy.
• Masdar: Abu Dhabi state-backed renewable energy developer with African projects in Egypt, Morocco and Sub-Saharan Africa; competes for large-scale solar and wind tenders similar to Globeleq's pipeline.

Direct peers

• Actis: Global energy infrastructure investor and former parent of Globeleq; continues to back African and emerging-market IPP platforms, making it the most direct strategic peer in Africa power investing.
• Lekela Power: Africa-focused wind and solar IPP backed by Actis and Mainstream; competes directly with Globeleq on utility-scale renewables in Egypt, South Africa and West Africa.
• Mainstream Renewable Power: Global wind and solar developer with deep African project pipeline (e.g., Lekela joint venture) and historical operating overlap with Globeleq in South Africa.
• Scatec ASA: Norwegian renewable IPP with a sizable Sub-Saharan Africa portfolio; sold the 52.5% Mocuba stake to Globeleq in 2023, indicating overlapping operational geographies and counter-direct deal flow.

Others

• African Development Bank (AfDB) / infra funds: Key DFI capital provider and co-financier of Globeleq's Menengai and Namaacha transmission projects; ecosystem participant rather than direct competitor but defines the African infra capital landscape Globeleq operates in.

Regional players

• Cummins Cogeneration Kenya / Independent Power Africa peers: East African IPP ecosystem participants (e.g., Gulf Energy, KenGen private partners) competing for the same Kenyan, Tanzanian and Ugandan utility tenders Globeleq's Menengai and Malindi assets serve.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/globeleq

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds12 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Globeleq