Globeleq Completes Acquisition of Stake in Winnergy Solar PV Plant in Egypt

Globeleq, a leading independent power and energy transition company in Africa, has finalized the acquisition of a 48.3% equity share in the 25 MWp Winnergy solar PV plant located in Egypt. The acquisition, from Enerray, Enerray Global Solar Opportunities, and Desert Technologies, strengthens Globeleq’s position in Egypt’s renewable energy landscape. Winnergy is situated within Egypt’s Benban Solar complex near Aswan and operates adjacent to Globeleq’s existing 66 MWp ARC solar plant.

Partnering with GILA Altawakol Electric (Altawakol), a prominent Egyptian group in electrical engineering and services, Globeleq solidifies its commitment to operational excellence and cooperation in asset management. Altawakol remains a co-shareholder and the operations and maintenance contractor for the Winnergy plant, continuing a collaboration that began in 2019.

Originally developed under Egypt’s Feed-in-Tariff program’s second round, Winnergy commenced operations in 2019, supplying approximately 58 GWh of clean electricity annually to the Egyptian Electricity and Transmission Company (EETC) under a 25-year power purchase agreement. This energy output is sufficient to power around 13,600 residential consumers yearly and contributes to avoiding 30,000 tonnes of CO2 emissions annually.