News
22 August 2025

Globeleq closes ZAR5.4bn financing for Red Sands battery

In:
Power
Region:
Middle East & Africa

Globeleq and African Rainbow Energy have reached financial close on the 153MW/612MWh Red Sands battery energy storage system near Upington, Northern Cape.Globeleq secured about ZAR5.4 billion ($305 million) in debt financing from Absa and Standard Bank for the project. The facility will supply...

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
05 March 2026

Bhutan’s Dorjilung hydro opens a PPP market

The Dorjilung hydroelectric financing moved away from sovereign-backed debt towards a blended PPP structure combining concessional capital, multilateral lending and private...

Perspective
13 March 2026

Proximo Deals of the Year 2025: Live lessons

The deals that impressed - sometimes for size but more often for innovation - in 2025. With the project finance market looking to build resilience, these were the lessons...