Black female-owned firm buys stake in NCape wind projects
DLO Energy Resources Group, a 100% black female-owned renewable energy company, has acquired a 30% equity stake in the BBBEE special purpose vehicle of the Longyuan Mulilo wind projects in the Northern Cape, for an undisclosed amount.
The company believes the deal is a milestone in increasing female ownership and promoting gender equality within the energy sector.
According to the firm, this strategic move positions DLO as the largest black female-owned shareholder in one of South Africa’s largest operational wind farms, solidifying its commitment to renewable energy and empowering women in leadership roles.
The Johannesburg-headquartered company operates as an independent power producer, driving the transition to clean and sustainable energy solutions in SA and other parts of the African continent.
In 2021, DLO acquired power infrastructure company Conco Energy Solutions, also with the aim of increasing women’s participation in the male-dominated power sector.
DLO is a renewable energy developer and strategic investor, which has 51% majority shareholding held by Linda Mabhena-Olagunju.
Mabhena-Olagunju was last year ranked seventh out of 100 in the prestigious Choiseul 100 Africa listing, making her the only South African on the list and one of four women included in this ranking.
The Longyuan Mulilo wind projects, a collaboration between DLO, China Longyuan Power Group, a consortium of South African entities, and a local community trust, has a combined capacity of 244MW.
DLO notes these wind farms, consisting of 163 turbines, have been actively feeding clean electricity into the national grid since 2017, significantly contributing to SA’s energy needs and mitigating the impact of load-shedding.
It adds the wind farms have reduced carbon emissions by an estimated 619 900 tonnes of carbon dioxide per annum, furthering SA’s commitment to combat climate change.
DLO CEO Mabhena-Olagunju is spearheading the DLO African Women in Leadership Summit, taking place on 15 August in Sandton, coinciding with Women’s Month.
The firm points out that the summit aims to empower women and facilitate their entry into the energy sector by exploring opportunities within the energy value chain.
The event will provide a platform to expose women-owned entities to the vast potential that exists in the energy sector.
“The renewable energy sector still has a long way to go in respect to transformation and female representation, especially when it comes to ownership and operational involvement,” says Mabhena-Olagunju.
“One of the initiatives we have taken as a company is to share the knowledge and experience we have gathered over the years and use our platform to open the door for other female entrepreneurs to access the renewable energy market through assisting them with identifying the opportunities.
“The summit will offer a workshop on understanding the renewable energy value chain,” she concludes.