DLO Resources, a black female-owned strategic investor, has bought 51% shareholding in Conco Energy Solutions, a subsidiary of Consolidated Power Projects. Conco Energy Solutions will be rebranded into DLO Energy Solutions.
The transaction will enable DLO Resources to create South Africa’s first majority-black female-owned engineering, procurement and construction (EPC) & operations and maintenance (O&M) in the automation and protection space.
“The importance of this acquisition for us as DLO Energy Solution is that it will finally lead to meaningful participation of black women in the energy sector, not just through shareholding but through the day-to-day involvement in the operations,” said Linda Mabhena-Olagunju, Founder and CEO of DLO Resources.
“It is also a key strategic company for South Africa in that we manufacture locally, thus adding locally-manufactured components to the energy value chain which is so heavily reliant on international imports.”
In 2015, Mabhena-Olagunju was selected by ESI as one of the 50 Most Influential People in African Power,
The purchase of Conco Energy Solutions was made possible through the partnership with the strong engineering and technical team led by the CONCO Group CEO, Johnny Dladla – through JMD Energy Resources.
DLO Energy Solutions has retained the core critical skills of Conco Energy Solutions within DLO Energy Solutions and will continue to offer its clients the same level of service previously received from Conco Energy Solutions team and management.
DLO Energy Solution’s experience now includes having successfully bid, built, and operated projects under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPP).
“This is an important acquisition that has also saved several jobs and critical skills required in the industry to build the energy infrastructure and support the current energy investment programmes,” Dladla said.
“The country requires the inclusion of competent skilled Black people in key technical roles, meaningfully focusing on the promotion of Black women and youth in the energy development opportunities.
“The business track record of Linda, as a founder of DLO Energy Group, brings entrepreneurial and commercial acumen to the acquisition. I am confident that as a shareholder and CEO at DLO Energy Solution, Linda and the management team will build the company to be among the key players in the energy sector,”
Dladla has more than 30 years of experience in the energy sector dating back to his days at Esso Petroleum Oil in the mid-1980s and has assumed varied leadership executive roles in companies such as SAB, BHP Billiton, and power utility – ESKOM.
Also read: Newly Launched Female-Owned Investments Firm Crystal Partners Targets African Markets
