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...

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