News
04 July 2025

Financial close for Globeleq’s Red Sands battery

In:
Power
Region:
Middle East & Africa

Globeleq and African Rainbow Energy have secured ZAR5.4 billion ($300 million) in financing for Red Sands, Africa’s largest standalone battery energy storage project.The 153MW/612MWh facility near Upington, Northern Cape, reached financial close with debt funding from Absa and Standard Bank....

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