Seriti buys majority stake in Windlab Africa’s 3,5 GW renewables assets
August 2022
News
Seriti Resources has entered into an agreement to acquire a majority stake in Windlab Africa’s wind- and solar-powered assets through its subsidiary, Seriti Green, as it seeks to lower its carbon footprint and ensure long-term sustainability as a diversified energy producer. This is a significant step in the development of Seriti Green, which was announced in November 2021. Windlab Africa consists of 100% of Windlab South Africa and 75% of Windlab East Africa.
Mike Teke, Seriti CEO, said: “The acquisition is a timely and strategic addition to our existing and valuable portfolio of coal assets. Our commitment to the responsible and reliable production of coal for both domestic consumption and exports remains unwavering.”
The transaction, with a total purchase price of R892 million, will see Seriti acquire a 51% controlling interest in Windlab Africa – with RMB (14,5%), Standard Bank (14,5%) and two individual partners, Mr Peter Venn (15%) and Ntiso Investment Holdings (5%) collectively taking up the remaining stake. Windlab is currently overseeing 3,5 GW of renewable energy projects at different stages of development in South Africa and East Africa.
As a responsible coal producer, Seriti says it is conscious of the impact that fossil fuels have on the environment, and is committed to playing an active role in helping manage the just transition to a low-carbon economy while balancing South Africa’s energy needs.
Seriti uses 750 GWh of electricity in the process of mining the coal that is used to fuel power stations. In line with the commitments made in the memorandum of understanding signed in October 2021 with Eskom and Exxaro, Seriti will start using renewable wind and solar energy in its own facilities through the signing of PPAs in 2023.
Seriti is partnering with Standard Bank, RMB, Ntiso Investment Holdings and Peter Venn. Seriti is confident in the strength of Windlab Africa’s experienced management team, led by Peter Venn who will continue to develop and grow the business. The entry of Seriti and its partners into the renewables sector signals a clear shift – a proudly black-owned, South African company making a meaningful contribution to a reduced carbon footprint and just transition.
Further reading:
Reinstatement opportunity for ECSA registration
News
In 2023 the Engineering Council of South Africa (ECSA) announced a special opportunity for engineers in South Africa to reinstate their registration status if it had been cancelled. This exclusive offer is available until the end of August 2024.
Read more...
The top 10 emerging technologies of 2025
News
The World Economic Forum’s top 10 emerging technologies of 2025 are expected to deliver real-world impact within three to five years and address urgent global challenges.
Read more...
Comtest calibration user group seminar
News
Comtest invites metrology and calibration professionals to a focused technical seminar series aimed at demystifying some of the most common hurdles in inter-laboratory comparisons.
Read more...
Technology leaders shaping 2025
News
In an era where agility, innovation and execution are paramount, ABI Research’s latest report, ‘26 Technology Companies Leading the Way in 2025’ identifies the top players shaping the future across key digital technology segments.
Read more...
Omniflex through the decades
Omniflex Remote Monitoring Specialists
News
As Omniflex celebrates 60 years of engineering excellence, we take a look back at the decade that saw us really kick in and deliver major engineering projects – the 1970s.
Read more...
Innomotics certified for innovative mine winder braking system
News
Innomotics has achieved SIL 3 certification for the COBRA 02 S braking system for mine winder installations, together with OLKO-Maschinentechnik.
Read more...
The true cost of cheap water in South Africa
News
The low cost of water has created a dangerous sense of comfort for South Africans.
Read more...
South Africa’s green hydrogen leap
News
Over the past 12 months, South Africa has solidified its ambitions to become a global green hydrogen leader. Riding on abundant renewable energy resources and strategic partnerships, the country has advanced from early-stage promise to tangible project groundwork. These are the most significant developments from mid-2024 through mid-2025.
Read more...
Rewiring the nation
News
South Africa’s energy sector is undergoing a dramatic transformation. Long defined by its heavy dependence on coal, the country is now making significant progress toward a more diverse and sustainable energy mix.
Read more...
Africa Energy Review
News
The Africa Energy Review 2024 from PwC outlines how the continent’s energy landscape is shifting in response to global trends, local needs and technological innovation.
Read more...
printer friendly version