Photograph — sweetcrudereports.com

Multinational energy company, ENGIE, is expanding its off-grid energy offerings in Africa through the acquisition of Mobisol. The latter is a pioneer of decentralized solar solutions with operations in Tanzania, Rwanda, and Kenya.

ENGIE already has significant activities in off-grid electrification in Africa. The company through its solar home system subsidiary – Fenix International – provides access to energy and financial services to over 500,000 customers in Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire, and Mozambique.

Once all approvals of the relevant regulatory bodies are received, ENGIE plans to offer a range of affordable energy products as well as extend its customer base from rural to urban areas. To achieve this, the company is banking on Mobisol’s focus on productive use products and Fenix’s inclusive home solar power systems.

Moreover, the purchase enables ENGIE to bring solar home systems to the three additional countries (where Mobisol operates), adding to the six countries where it already has a presence.

“With the acquisition of Mobisol, ENGIE expands its access to a market of millions who are not connected to the grid and establishes itself as the market leader on the continent,” ENGIE CEO, Isabelle Kocher said.

Additionally, ENGIE supplies affordable electricity to rural populations with its PowerCorner. This is done through smart mini-grids powered by solar energy and battery storage.

PowerCorner reportedly offers 24/7 energy services to households and local businesses as well as to public services in villages across Tanzania and Zambia. All of these services are enabled by digital financial solutions such as mobile money and Pay-As-You-Go technologies.

Kocher stated that with ENGIE’s PowerCorner, Fenix, and now Mobisol, the company will “pave the way for a new generation of affordable energy services” in line with its strategy which is focused on “the acceleration of the zero-carbon transition.”

“Not only do we change people’s lives with clean energy but we trigger economic activities for households and entrepreneurs who generate additional income once they are connected,” the CEO added.

ENGIE is a French multinational electric utility company, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum.

Comments

Elsewhere on Ventures

Triangle arrow