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....

Exclusive subscriber content…

If you are a Proximo subscriber, please login to continue reading

Login

Not yet a subscriber? Join us today to continue accessing content without any restrictions

View our subscription options

Or to request access to Proximo Intelligence contact us

Request Access

You might also like


Perspective
10 February 2026

Calmer waters for European offshore?

The political support is definitely there, but offshore wind in the North Sea is producing mixed results. What do the results of the UK auction - and delays to the German...

Analysis
17 February 2026

Battery bonds: Financing Brazil’s manufacturing transition

Existing financing tools are not powerful enough to support the development of projects integrated into electrification’s complex supply chains. Brazil is encouraging the...