O&L Group takes energy business to Europe with acquisition of former technology supplier
The Ohlthaver & List Group’s photovoltaic installations have become so extensive that the group decided to make a bid for a majority stake in its main technology partner, the German company Cronimet Mining Power Solutions GmbH.
This week, the O&L Group announced it has acquired the majority shareholding in Cronimet from the parent, Cronimet Mining AG, registered in Switzerland. As of the beginning of the month, Cronimet Mining Power Solutions has merged with O&L Energy to form the new joint venture O&L Nexentury GmbH, registered in Germany.
“With this merger, the two companies have aligned their renewable energy and sustainable infrastructure business models to expand development and asset aggregation throughout Africa and into Europe,” stated Rollie Armstrong and Steffen Kammerer, two of the co-founders and directors of the new O&L Nexentury.
“We are thrilled to officially be part of the O&L family after many successful years as partners as we inaugurate our next century by building a future together that enhances life and grows a profitable and long-term sustainable business,” they continued.
The former O&L Energy’s Chief Executive, Wessie van der Westhuizen commented “we are excited to welcome on board O&L Nexentury as we continue unlocking and maximizing synergies and value for renewable energy and long-term sustainable business for both the Group and our external customers. This exciting, new partnership is a big leap in the O&L Group’s quest of venturing beyond borders. The projects successfully completed by O&L Energy and its partners have proven that we can compete with the best in the world and therefore it is time to take this Namibian business to the world.”
Gunni Hanke, the O&L Group Chief Operations Officer and Bernd Walbaum, a Director of O&L Nexentury GmbH, said “With this merger the O&L Energy Business enters into a new and very exciting era. By building an international business in Namibia, Africa and Europe we follow the O&L purpose ‘Creating a future, enhancing life.”
Rollie Armstrong (left) and Steffen Kammerer, two of the co-founders and directors of the new operating entity in the O&L Group’s stable, O&L Nexentury GmbH.