Seriti Green to produce 3.5GW of energy

The company announced on Monday that it will acquire a majority stake in Windlab Africa’s wind and solar-powered assets through its subsidiary Seriti Green. #dstv403

JOHANNESBURG - One of South Africa's big energy companies, Seriti Resources, will be diversifying its business to include renewable energy.

The company announced on Monday that it will acquire a majority stake in Windlab Africa’s wind and solar-powered assets through its subsidiary Seriti Green.

As a responsible coal producer, Seriti is conscious of the impact that fossil fuels have on the environment and is committed to playing an active role in helping manage the transition to a low-carbon economy while balancing South Africa’s energy needs.

READ: Environmental group says SA lagging behind the world in alt energy

But the acquisition will also assist in South Africa's electricity crisis.

The wind farm, which will be built in Mpumalanga, is set to produce over three gigawatts of power.

While some of the power will be used by Seriti Resources, there are plans for power to be sold to other companies.

The transaction will cost over R800-million and while Seriti will own 51 percent, Standard Bank, RMB and Ntiso Holdings will also have a stake. 

Source
eNCA

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