EDF has announced that it has agreed to invest in GIBB Power, a subsidiary company of GIBB Engineering and Architecture specialising in engineering in the energy sector, including hydropower.
GIBB Power, which is owned 70% by GIBB and 30% by EDF, aims to become a reference-engineering platform, specialising in supporting energy projects and offering solutions to the challenges of energy transition in Africa.
Under the agreement, EDF Group and GIBB have decided to cooperate in several areas of engineering, both for public and private stakeholders. This includes hydraulic engineering, supporting hydropower projects, notably in Zambia and Mozambique, where the potential for hydropower represents a key energy resource for the Southern African Development Community region.
Other areas include thermal engineering, electricity transmission and distribution networks and solar and wind power.
GIBB Power will be supported by EDF engineering competences covering the entire value chain for energy projects, as well as by EDF subsidiaries that are already established in South Africa.
“Our investment in GIBB Power will be a catalyst for the development of EDF in Africa through low-carbon projects that are consistent with EDF’s Cap 2030 strategy,” said Valérie Levkov, Senior VP for Africa, Middle East and Eastern Mediterranean at EDF. “We are also proud to support South Africa and more widely southern Africa to meet its energy challenges, especially with a trusted, stand-out partner in the region.”
Richard Vries, Group Chief Executive of GIBB Holdings added: “In the past, GIBB has on a number of occasions actively partnered with EdF to deliver major projects. This investment in GIBB Power is therefore a natural progression of the relationship. GIBB power is now poised to deliver world class solutions to clients by bringing the necessary breadth and depth of technical skill across the full spectrum of the energy value chain.”
