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
-
Nigeria to host West Africa's largest solar farm with 200MW capacity
Over $20 billion worth of solar projects are reportedly under construction or planned around the country.
-
New funding round opens for renewable energy projects in developing countries
The current funding round of US$50 million in concessional loans marks the sixth of seven annual cycles.
-
UK-backed initiative invites proposals for innovative clean energy projects in Africa
Successful applicants stand to benefit from a host of financing services and support tailored to their unique circumstances ...
Sustainable Development Section Sponsor
-
Access Bank Plc ...Financing the future
Most Popular
