Linda Mabhena-Olagunju from DLO Resources, who in 2019 was featured in ESI Africa’s African Power & Energy Elites yearbook, has acquired 51% of Conco Energy Solutions, the subsidiary of Consolidated Power Projects, to create South Africa’s first majority-black female-owned EPC and O&M in the automation and protection space.
Conco Energy Solutions has been acquired by a 100% black-owned company with a 51% female majority shareholding held by Linda Mabhena-Olagunju. Mabhena-Olagunju is a Founder and CEO of DLO Resources Group, a 100% female-owned renewable energy developer and strategic investor.
This is a move that will see the company change its name to DLO Energy Solutions and become a Level 1 BBBEE contributor which is 100% black-owned and 51% black female-owned – a major victory for women’s participation in South Africa’s male-dominated power sector.
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 the Conco Energy Solutions team and management.
Dladla said: “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.”
He added: “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.”
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The African Power & Energy Elites publication
Acquisition of Conco by DLO Resources leads to meaningful black women participation in the energy sector
The experienced Mabhena-Olagunju said the acquisition was a major step for black women in the energy sector.
“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. 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,” she said.
DLO Energy Solutions is a medium and high voltage power infrastructure service provider that provides bespoke solutions integrating multiple Original Equipment Manufacturers’ (OEM) equipment into a turnkey solution.
Mabhena-Olagunju added that the company continued to have strong engineering, design, procurement, project management, construction, testing, and commissioning capabilities as part of its core competencies. 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).
“I look forward to learning a lot more from my partner, Mr Dladla, as well as the team, and I was deeply impressed by Mr Dladla’s advocacy for the promotion of women in key leadership positions, and his desire to save jobs,” Mabhena -Olagunju said.
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.