ENGIE to become market leader in off-grid solar in Africa
Summary
With the acquisition of Mobisol, ENGIE will be offering solar home systems in additional three African countries.
ENGIE, a company dual-listed on the Paris and Brussels stock exchanges – and providing low-carbon energy services – has acquired Mobisol, an off-grid solar solutions provider in Africa. Founded in 2011, ENGIE employs over 500 people as well as approximately 1,200 contractors. On its part, Mobisol, which has operations in Tanzania, Rwanda and Kenya, has installed more than 150,000 solar home systems in Sub-Saharan Africa.
With the acquisition of Mobisol, ENGIE will be offering solar home systems in three additional countries, complementing the six countries where it is already present with its solar home system subsidiary company Fenix International.
Fenix provides access to energy and financial services via its solar home systems to over 500,000 customers in Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire and Mozambique. Additionally, ENGIE PowerCorner, which harnesses digital financial solutions such as mobile money and Pay As You Go technologies, supplies affordable electricity to rural populations through smart mini-grids powered by solar energy and battery storage.
Universal electrification is the 7th of the United Nations Sustainable Development Goals that the global community has committed to achieve by 2030. Currently more than 600 million people have no access to electricity in Africa and by 2030 the continent is expected to be home to 80 percent of the world’s off-grid population, according to the International Energy Agency.
Related
-
Power Africa partners TDB to finance energy projects in 22 countries
With the signing of the MoU, the Trade and Development Bank becomes the 18th development partner of Power Africa.
-
BoI, UNDP sign $2 million agreement to provide solar power in Nigeria
The agreement is part of the second phase of the BoI/UNDP Access to Renewable Energy Project.
-
IFC provides $55 million financing for Scatec Solar in Mozambique
Scatec Solar is a leading developer and owner of large-scale solar plants in Africa, with operations in South Africa, ...
Sustainable Development Section Sponsor
-
Access Bank Plc ...Financing the future
Most Popular
- Services expansion not scaling prosperity in least developed economies
- Despite AGOA extension uncertainty clouds US-Africa trade future - Xinhua
- New GSMA report identifies gaps in rural connectivity gap
- Profile and reflection on Africa's women leadership ahead of IWD 2026
- Mobile money transaction value reaches $2 trillion – GSMA report
