Dar es Salaam. Multinational energy company Engie is set to expand its presence in Africa through acquiring Mobisol – a pioneer of off-grid solar systems.
That means, Engie will now provide solar home systems in three additional countries of Tanzania, Rwanda and Kenya where Mobisol is operating and already installed more than 150,000 solar home systems. The three additional countries complement the six countries where Engie is already present with its solar home system company Fenix International.
The closing of the acquisition of Mobisol will happen once all approvals of the relevant regulatory bodies are received, Engie said in a statement.
“Today we have the technology, experience, and business models to dramatically accelerate energy access. Off-grid renewable energy solutions represent an electrification solution that is rapidly scalable, can be tailored to local conditions and has the potential to empower millions of people in communities across Africa,” said Engie Africa chief executive officer Yoven Moorooven.
“With the acquisition of Mobisol, we are now positioned as the leading off-grid energy services company within the African continent,” he added. With its subsidiary Fenix International, Engie provides access to energy and financial services via its solar home systems to over 500,000 customers, improving the quality of life for over 2.5 million people in Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire and Mozambique.
Additionally, with Engie PowerCorner, it supplies affordable electricity to rural populations through smart mini-grids powered by solar energy and battery storage.
PowerCorner offers 24/7 energy services to households, local businesses and 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.
Universal electrification is the 7th of the 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 per cent of the world’s off-grid population, according to the International Energy Agency.