CRONIMET goes Nexentury!
CRONIMET announces a merger with Namibia’s O&L Group and launches O&L Nexentury.
Munich, August 18th, 2020. CRONIMET Mining Power Solutions GmbH (the Company), a German-based renewable energy project development, EPC, investment, and asset management company has merged with the Ohlthaver & List Group (O&L), Namibia’s largest privately held group of companies. After half a decade of successfully partnering with CRONIMET in Namibia through a joint venture, O&L has acquired the majority stake in what was CRONIMET Mining Power Solutions GmbH, from the exiting major shareholder CRONIMET Mining Energy AG, in Switzerland.
And in cementing the corporate merger, today the Company announces the launch of its new trade name and brand “O&L Nexentury”. As of August 2020, “CRONIMET Mining Power Solutions” will no longer be marketed and from this point on the Company and its subsidiaries will operate under the trade name and brand O&L Nexentury GmbH.
“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, Co-Founder and Managing Director of O&L Nexentury GmbH. “Capitalized with O&L Group’s rich Namibian history, its corporate culture and its financial muscle and combined with what was CRONIMET’s project development expertise, team diversity and track record, the new O&L Nexentury is set to be a major international force.”
Steffen Kammerer, Co-Founder and Managing Director, added, “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.”
“With this merger the O&L Energy Business enters into a new and very exciting area. By building an international business in Namibia, Africa and Europe we follow the O&L purpose ‘Creating a Future, Enhancing Life’”, said Bernd Walbaum, Managing Director of O&L Nexentury GmbH.
About O&L Nexentury: O&L Nexentury GmbH is a German-based renewable energy company that develops, builds, finances, owns and operates utility scale solar PV power plants across sub-Saharan Africa. In just a few years, O&L Nexentury GmbH has become one of the leading solar photovoltaic developers and independent power producers in Southern Africa, with operating PV plants and projects under development in Botswana, South Africa, Mozambique, Namibia, Zambia and several other African countries. To date, Nexentury has completed, is constructing, was awarded or has achieved pre-financial close on 11 African projects representing more than 40 MW of power, and has a development pipeline consisting more than 500 MW of utility scale PV and PV-Energy Storage project throughout Africa and Europe.
About the O&L Group: As a truly African company employing more than 6,000 people in various business sectors, the Ohlthaver & List Group is rooted in, and committed to, Africa and her people. O&L is Namibia’s largest privately held group of companies, with revenues contributing roughly 4% to GDP. It has business interests in food production, fishing, beverages, farming, retail trade, information technology, property leasing and development, renewable power generation, marine engineering, steel retailing, advertising and the leisure and hospitality industry. With annual revenues of over N$5 billion, O&L is a major contributor to state coffers and is in the position of being a significant contributor to GDP in Namibia. Wherever it operates, this diverse group is actively engaged in uplifting the lives of its employees, its consumers, and society generally. O&L is relentless in pursuit of its Purpose: ‘Creating a future, enhancing life’ while actively pursuing its Vision of ‘being a catalyst for positive change, creating new realities and fulfilling dreams’. www.ohlthaverlist.com