Glencore Makes Deal with Pele Green for $116 Million Solar Plant
- Nedbank, Absa to provide debt financing for the transaction
- Pele to build 100 MW plant at Glencore-Merafe’s chrome venture
A worker inspects panels at a solar plant in Evander, South Africa.
Photographer: Guillem Sartorio/BloombergThis article is for subscribers only.
Glencore Plc’s South African ferroalloys division and its joint venture partner Merafe Resources Ltd. agreed a deal with Pele Green Energy to build a 2.1 billion rand ($116 million) utility-scale renewable energy plant.
Nedbank Group Ltd. and Absa Group Ltd. will provide debt, while Pele will contribute equity, Pele’s Managing Director Gqi Raoleka said in an interview. The 100-megawatt solar plant will be built at the Glencore-Merafe Chrome Venture’s operation in South Africa’s Free State province, he said.