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Engie Grows its Presence in Africa on Acquiring Mobisol

French energy giant Engie has grown its renewables business by acquiring German company Mobisol, an established off-grid solar specialist in Africa, an off-grid systems professional with operations in Kenya, Tanzania and Rwanda.

Esblaished in 2011, Mobisol is operating  in Kenya, Tanzania and Rwanda and claims it has supported more than 750,000 people gain access to electricity in sub-Saharan Africa. However, the company has been under rupture proceedings since April.
The acquisition still awaiting clearance by the relevant authorities – will expand Engie’s presence in Africa; with the French company declared it will be offering solar home systems in extra three countries, complementing the six where it is already existing with its solar home system company Fenix International. Engie operates in Uganda, Zambia, Nigeria, Benin, Côte d’Ivoire and Mozambique through Fenix, a company it acquired in 2017 and whose flagship product is ReadyPay Power, a solar kit for lighting, charging phones and providing power for televisions and radios.
Engie has also developed its PowerCorner start-up in Tanzania and Zambia, which creates smart mini-grids powered by solar energy and battery storage.
Engie CEO Isabelle Kocher believed the business is becoming the leader in off-grid solar on the continent. “With Engie PowerCorner, Fenix and now Mobisol, we will pave the way for a new generation of not so expensive energy services in line with our strategy focused on the acceleration of the zero-carbon transition,” she said.
More than 600 million Africans do not have access to electricity. Equipped with solar panels and a battery – and available for purchase or rental – home solar kits are an affordable and effective solution to meet energy needs in rural and off-grid areas. Universal electrification is the seventh of the United Nations’ sustainable development goals, which the international community is committed to achieving by 2030.
Source : www.bizaf.com
Posted On: 9/4/2019 12:00:00 AM

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