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
23 December 2025

On Your Radar for 2026: The Must-Watch Trends From 2025

These trends are already shaping what 2026 will look like. Our new video recap blends expert commentary from recent articles, key data snapshots, and highlights from our event...

Perspective
09 January 2026

Genneia’s 2nd green bond: DFI support for Argentina risk

The Argentinian renewables generator deftly navigated domestic instability in pricing its second green bond. But DFI support from FMO and Proparco was a vital help in getting...