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Message to Vancouver street missioners is clear: ‘Do unto others...’
Magnora is increasing its focus in the South African solar and wind market by acquiring 92% of the renewable project development company African Green Ventures.
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115 views Oslo Bors Newsfeed 22 February 2021 - Renewable energy development company Magnora ASA has entered into agreements to acquire 100 percent of the shares in a South African company with a 775 MW greenfield renewable development portfolio. In addition, Vindr group is merging with an onshore wind and solar PV project developer in the South African market. In connection with this, Magnora increases its ownership in Vindr group to 50 %. The transactions gives Magnora over 1 GW net potential of renewable energy projects in the South African market. After this transaction, the Vindr group w...
The capital was raised through a private placement which was multiple times oversubscribed, Magnora said. The developer has also appointed former Arise Windpower CEO Peter Nygren as executive vice president of operations. Magnora CEO Erik Sneve said: “Magnora has made numerous exciting renewable investments in the past 18 months. “The funds from this private placement will be utilised to create even greater value for Magnora’s shareholders through our current company and project portfolio, but also to capitalise on additional investment opportunities. “We have access to a solid deal f...