, yesterday announced that its Red Sands project in the Northern Cape has been awarded Preferred Bidder status in South Africa’s Energy Storage Capacity Independent Power Producer Procurement Programme . Globeleq is majority-owned by British International Investment , the Development Finance Institution of the UK Government.and worldwide as a means of resolving energy crises and tackling climate change.
Experts say that widespread energy storage is vital to expanding the reach of renewables and speeding the transition to a carbon-free power grid — this is key to helping reduce South Africa’s reliance on fossil fuels as it seeks to transition to clean energy. This R5.
Working closely with leading global battery and balance-of-plant suppliers, Globeleq estimates that the project will require an investment of approximatelyand will take 24 months to construct after financial close, which is expected in 2024., and is developing BESS projects across the African continent.
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