Cox ABG Acquires Stake in South African Solar Plant

COX ABG Group SA (ES:COXG) has released an update.

Cox ABG Group S.A. has successfully acquired a 51% stake in the Khi Solar One plant in South Africa, marking a significant step in the company’s renewable energy portfolio. The solar thermal plant, which has a net capacity of 50 MW and operates 24/7, is expected to contribute an annual EBITDA of 21-23 million euros. This acquisition is supported by a long-term power purchase agreement with Eskom and underscores Cox’s commitment to enhancing renewable energy efforts in Africa.

For further insights into ES:COXG stock, check out TipRanks’ Stock Analysis page.