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ENGIE acquires Mobisol to boost off grid solar

FRENCH energy company ENGIE has acquired off grid solar company-Mobisol in a bid to expand its decentralised energy offering in Tanzania and the whole continent.

The Chief Executive Officer (CEO), at ENGIE Africa Yoven Moorooven, “Today we have the technology, experience, and business models to dramatically accelerate energy access in the continent,”

He said 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.

“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 company Fenix International,” he added.

The German based firm, Mobisol has operations in Tanzania, Rwanda and Kenya and has installed more than 150,000 solar home systems, providing clean and reliable energy to over 750,000 people in Sub-Saharan Africa.

Mobisol’s focus on productive use products, combined with Fenix’s inclusive home solar power systems, will enable ENGIE to offer an unparalleled range of affordable energy products as well as extending its customer base from rural to urban areas.

The closing of the acquisition of Mobisol will happen once all approvals of the relevant regulatory bodies are received.

Founded in 2011, ENGIE employs over 500 people as well as approximately 1,200 contractors with significant activities in off-grid electrification in Africa.

With its subsidiary Fenix International, it 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 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 percent of the world’s off-grid population, according to the International Energy Agency.

OVER 80 per cent of ...

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Author: DAILY NEWS Reporter

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