{"id":1254,"date":"2022-08-16T15:08:25","date_gmt":"2022-08-16T12:08:25","guid":{"rendered":"https:\/\/ege-windturbines.com\/en\/?p=1254"},"modified":"2022-08-16T15:08:28","modified_gmt":"2022-08-16T12:08:28","slug":"south-african-coal-giant-seriti-to-take-control-of-3-5gw-renewables-player-windlab-africa","status":"publish","type":"post","link":"https:\/\/ege-windturbines.com\/en\/2022\/08\/16\/south-african-coal-giant-seriti-to-take-control-of-3-5gw-renewables-player-windlab-africa\/","title":{"rendered":"South African Coal giant Seriti to take Control of 3.5GW Renewables player Windlab Africa"},"content":{"rendered":"

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Following completion of the deal, Seriti will own 51% of Windlab Africa, which has a 3.5GW portfolio of wind and solar projects at different stages of development in South Africa and east Africa.<\/p>\n

Windlab Africa managing director Peter Venn (15%), RMB (14.5%), Standard Bank (14.5%) and Ntiso Investment Holdings (5%) will hold minority stakes in the developer.<\/p>\n

Windlab Africa is the African arm of Australian renewables developer Windlab. The parent company is also active in wind farm development in its home market and in Canada, according to its website.<\/p>\n

Seriti is a major coal player in Africa and claims that a third of state-owned utility Eskom\u2019s electricity comes from its coal. However, last year it set up a renewable energy unit \u2013 Seriti Green \u2013 to diversify into wind and solar.<\/p>\n

It explained that introducing renewable energy into its portfolio will provide \u201clong-term financial stability and diversification\u201d.<\/p>\n

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