Glencore and Pele Green Energy agree to build a solar plant together

Glencore’s (GLEN.L), opens in a new tab, and Pele Green Energy’s (Pele Green Energy) agreements to build a solar plant are now finalized. the South African ferroalloys unit and Merafe Resources (MRFJ.J), which is a partner in the joint company.

Bloomberg News says the deal is worth 2.1 billion rand, which is about 116 million dollars. It will build the Sonvanger Solar PV Power Plant in South Africa’s Free State area.

According to Pele Energy, the 100 MW Sonvanger Solar PV Power Plant will help South Africa make the switch to clean energy.
When asked for feedback, Glencore, Merafi, and Pele did not answer right away.

Nedbank Group and Absa Group will provide loan capital, and Pele Green Energy will provide equity, as reported by Bloomberg and Pele’s Managing Director Gqi Raoleka.

The value of 1 dollar is 18.1042 rand.

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