EDF to invest in GIBB Power an engineering specialist in the energy sector

LONDON, 10-Oct-2018 — /EuropaWire/ — EDF, world’s leading electricity company, and GIBB, a major engineering player in Africa signed agreements for EDF to invest in GIBB Power, a subsidiary company of GIBB Engineering and Architecture specialising in engineering in the energy sector.

By building on the skills of GIBB’s energy division and on EDF’s multi-skill expertise, 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.

Sub Saharan Africa is facing a growing challenge to reconcile its increasing energy demand with the need to further reduce its carbon dioxide emissions. To support this transformation, the EDF Group and GIBB have decided to cooperate in several areas of engineering, both for public and private stakeholders:

  • Thermal Engineering, for instance in the decommissioning of coal-fired plants in South Africa: the country’s energy policy makes provisions for the closure of 12 GW of coal-fired stations between now and 2030.
  • 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.
  • Electricity transmission and distribution networks, to facilitate the integration of renewable energies, modernize and develop urban electricity networks as well as interconnections between countries.
  • Solar and wind power supporting the rapid development of these energies throughout Africa.

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. GIBB has a wealth of knowledge spanning over 60 years in the design, planning and management of infrastructure projects in various sectors including Water, Power and Transport amongst others. Traditionally a South African company (its home market), GIBB has a presence in various countries on the continent.

EDF has been active in South Africa for over 40 years and is known and recognized locally both for its historic cooperation with ESKOM and its investment in wind power and rural electrification projects. The synergy between EDF and GIBB’s expertise will pave the way to increasing four-fold their activities in engineering services in Africa. In addition, GIBB Power will enable EDF Group to identify, screen and develop greenfield projects in Africa.

Valérie Levkov, Senior VP for Africa, Middle East and Eastern Mediterranean at EDF stated: “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. 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 “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”.

Contacts

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Phone: +33 (0) 1 40 42 40 38

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Phone: +33 (0) 1 40 42 46 37
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SOURCE:  EDF

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