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British electricity firm Globeleq acquires GENCO in Nigeria


British electricity firm Globeleq acquires GENCO in Nigeria
On
By Prince Okafor
A London based independent power generation company operating in Africa, Globeleq, has confirmed it will take 74 percent equity stake in CPGNL Limited, (CPGNL), a Nigerian power business.
The current owner of CPGNL, the Clean Energy Group, will retain the remaining 26 percenr shares in CPGNL.
Energy Vanguard gathered that the business will be rebranded as Globeleq Power Solutions Nigeria Limited.
CPGNL has a portfolio of assets which serve commercial and industrial customers mostly in the southwest of Nigeria.  These include 12 operating plants with a total capacity of 58 MW, three plants in construction (9 MW total capacity), as well as approximately 100 MW of projects in development. ....

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