New acquisition spurs women participation in energy sector
Female-owned renewable energy firm DLO Resources Group has acquired power infrastructure company Conco Energy Solutions, in a move that it says increases women’s participation in the male-dominated power sector.
DLO Resources, the 100% female-owned renewable energy developer and strategic investor, has 51% majority shareholding held by Linda Mabhena-Olagunju.
It announced today that the purchase of Conco Energy Solutions was made possible through a partnership with JMD Energy Resources.
DLO Energy Solutions is a medium- and high-voltage power infrastructure service provider that provides bespoke solutions.
“The importance of this acquisition for us as DLO Energy Solutions is that it will finally lead to meaningful participation of black women in the energy sector, not just through shareholding but through the day-to-day involvement in the operations,” says Mabhena-Olagunju.
“It is also a key strategic company for South Africa in that we manufacture locally, thus adding locally-manufactured components to the energy value chain which is so heavily reliant on international imports.”
With the deal, DLO Energy Solutions says it has retained the core critical skills of Conco Energy Solutions and will continue to offer its clients the same level of service previously received from the Conco Energy Solutions team and management.
Conco Group CEO Johnny Dladla says: “This is an important acquisition that has also saved several jobs and critical skills required in the industry to build the energy infrastructure and support the current energy investment programmes.
“The country requires the inclusion of competent skilled black people in key technical roles, meaningfully focusing on the promotion of black women and youth in the energy development opportunities.
“The business track record of Linda, as a founder of DLO Energy Group, brings entrepreneurial and commercial acumen to the acquisition. I am confident that as a shareholder and CEO at DLO Energy Solutions, Linda and the management team will build the company to be among the key players in the energy sector.”
The deal comes shortly after the Empowerment of Women in the Green Industry Policy Assessment Report was launched in Cape Town, lamenting the lack of women participation in the power industry.
According to the Department of Trade, Industry and Competition, which was one of the partners producing the report, concrete measures to address gender equality and women empowerment in the energy sector are needed.