JONATHAN HOFFMAN CONFIRMED AS CHIEF EXECUTIVE OFFICER

LONDON, March 31, 2025 /PRNewswire/ -- The Board of Globeleq, the leading independent power company in Africa, and its shareholders are pleased to announce that Jonathan Hoffman, currently interim Chief Executive Officer, has been confirmed as the Group's permanent CEO. The Board undertook a thorough and extensive search process which considered both internal and external candidates.

Jonathan Hoffman joined Globeleq in 2010, was appointed Chief Development Officer in 2020 and took over as interim CEO in July 2024. Jonathan has led the development and investment team as they have secured deals and new investments across Africa including, most recently, the award of Red Sands, the largest standalone battery storage project on the Continent. Jonathan has over 20 years of experience in the power sector having worked previously for ABB Energy Ventures and for InfraCo which he co-founded. 

Since 2015 Globeleq has nearly doubled its generating capacity in operation and under construction. In the 2020s, the Group has been responsible for 43 per cent of all utility-scale non-hydro renewable and gas IPP generation to reach financial close in Sub-Saharan Africa (excluding South Africa).

Jonathan Hoffman will now lead Globeleq through its next phase of growth which will focus on the energy transition in Southern Africa and Kenya. The Group owns and operates 12 renewable power plants across South Africa, Mozambique and Kenya, has [485]MW in construction, and has a number of landmark projects across the region in its development pipeline. Outside of Southern Africa, Globeleq will focus on its existing plants, which provide vital power to local communities and industry, and generating returns for its shareholders.

Laurence Mulliez, Globeleq Chair, commented today,
"I am very pleased to confirm that Jonathan Hoffman is now Globeleq's permanent CEO. Jonathan has in-depth knowledge of our people and our portfolio and is ideally placed to lead Globeleq through the next period of growth. Since becoming Interim CEO last year, Jonathan has impressed the Board with his commitment to the business and his knowledge of our industry and our partners."

Jonathan Hoffman, Globeleq's CEO, added:
"I am thrilled to lead Globeleq's talented team to deliver on our mission and drive the energy transition in Southern Africa. My absolute commitment is to solve problems for our customers and deliver value to our shareholders."

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 1,794 MW in 17 locations across seven countries, with a further 485 MW in construction and more than 2,000 MW of power projects in development.

More details at www.globeleq.com.

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