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The latest announcement is out from Magnora ASA ( (SVMRF) ).
Magnora ASA announced that the Red Sands battery storage project in South Africa, initially developed by its arm African Green Ventures, has reached financial close. This milestone, achieved in partnership with Globeleq, marks the largest standalone battery storage project in Africa to date and signifies a major step in advancing renewable energy infrastructure in the region. The project is expected to enhance the South African grid’s capacity for clean energy, with further potential for expansion in battery storage and solar PV. This development underscores Magnora’s strategic focus on renewable energy and its successful collaboration with Globeleq, contributing to a more resilient and low-carbon power system in Africa.
The most recent analyst rating on (SVMRF) stock is a Hold with a NOK34.00 price target. To see the full list of analyst forecasts on Magnora ASA stock, see the SVMRF Stock Forecast page.
More about Magnora ASA
Magnora ASA is a renewable-energy group focused on developing wind, solar, and battery storage projects. It operates in Europe and Africa through various portfolio companies, including Hafslund Magnora Sol AS, Magnora Offshore Wind AS, and Magnora South Africa. Magnora is listed on the Oslo Stock Exchange under the ticker MGN.
Average Trading Volume: 213,150
Current Market Cap: NOK1.61B
See more data about SVMRF stock on TipRanks’ Stock Analysis page.