GLOBELEQ LAUNCHES 2022 SUSTAINABILITY REPORT

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LONDON, June 13, 2023 /PRNewswire/ -- Globeleq, the leading African-focused independent power producer, has released its 2022 Sustainability Report. This report details Globeleq's performance across seven African countries where the Group produced more than 7,400 GWh's of electricity, reaching 9.7 million consumers and supporting 250,000 jobs.

Globeleq's assets include gas-to-power plants, wind farms and solar projects across Africa. Current development projects include the Group's first combined solar and energy storage plant at Cuamba in Mozambique which will start commercial operations shortly. The Group has also broken ground at its first ever geothermal project at Menengai in Kenya which is scheduled to start producing power in 2025.

Other highlights in 2022:

-  939,064 tonnes of CO2e avoided through Globeleq's renewable electricity generation

-  Greenhouse gas intensity of Globeleq's portfolio was below 400 tonnes of CO2e per GWh for the first time due to a first full year of operations at the Malindi solar plant in Kenya

-  US$3.8 million invested in socio-economic development projects reaching 120,400 people.

-  495 people employed with 98% being from the African country where they work

-  26% female workforce with women filling 31% of senior management positions

-  Exceptional safety performance with a Reportable Incident Rate of 0.06 per 200,000 working hours in operations, a rate of 0.09 in construction and no lost-time accidents anywhere in 2022

In addition, Globeleq made good progress with the construction of its IFC-backed and Paris-aligned 450 MW gas-to-power project at Temane in Mozambique which will supply reliable, baseload power to meet the demand of 1.5 million Mozambican households once the project begins operations in 2024. In Cote d'Ivoire the Group is currently commissioning the Phase IV expansion of the Azito gas-to-power plant in Cote d'Ivoire which provides over a fifth of the country's installed capacity.

Mike Scholey, Globeleq's CEO commented:
"Globeleq's commitment to sustainability remains core to our mission of powering Africa's growth. Over the past year, we have made good progress on construction projects, delivered an excellent operational and safety performance, and operated with a greenhouse gas intensity below 400 tonnes CO2e per GWh for the first time. Our portfolio of assets is currently two-thirds thermal - making a major contribution to economic and social development in countries that have limited access to power - but we remain committed to both increasing our renewable capacity in the near-term and, in the longer-term, reaching Net Zero by 2050."

About Globeleq

Globeleq, which is owned 70% by British International Investment and 30% by Norfund, is the leading developer, owner and operator of electricity generation in Africa. Since 2002, its experienced team of professionals have built a diverse portfolio of independent power plants, generating more than 1,500MW in 14 locations across 6 countries, with a further 722 MW in construction and more than 2,000 MW of power projects in development.

More details at www.globeleq.com.

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