ENGIE and Fenix International have agreed a transaction for ENGIE to acquire 100% of the latter, which specializes in selling small, off-grid rooftop systems to customers in East African nations, primarily in Uganda.
Financial terms of the transaction have not been revealed. According to ENGIE, Fenix has 350 employees, and more than 140,000 customers for its ReadyPay platform, which allows users to gradually build towards ownership of their rooftop system whilst paying for the power generated and building up a credit score.
“Fenix will be the agile growth engine for ENGIE’S SHS business in Africa and enable us to become a leading profitable off-grid energy services company on the continent, reaching millions of customers by 2020, stated Bruno Bensasson, CEO of ENGIE Africa. “We do believe that universal access is now reachable in a foreseeable future by the combination of national grid extensions, local microgrids and solar home systems.”
Across the African Continent, more than 600 million still lack access to electricity. However, new technologies and business models such as the one operated by Fenix make rooftop solar a viable option for many.
“To date, Fenix has delivered solar power to over 900,000 people in East Africa. By joining forces with ENGIE we will greatly accelerate the path to our vision,” said Lyndsay Handler, Fenix International CEO. “We will continue to relentlessly pursue an exceptional customer experience in all we do, and together we will make universal access to modern energy a reality.”
The acquisition transaction now awaits approval from the relevant regulatory bodies.
One of the world’s largest energy companies traditionally active in the nuclear and natural gas sectors, ENGIE now has a stated aim to become the ‘leader of this new energy world’, and has made some big moves into the renewables sector in recent years. This takeover of Fenix International is the latest in a series of solar acquistions including The European business of bankrupt U.S. rooftop PV company Sungevity and a stake in Chinese PV developer Unisun.
Reports from earlier this year also stated that ENGIE is looking to acquire German renewable energy company Innogy, though no deal has yet been announced.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
Engie in its previous incarnation as GDF Suez, had a part share in banque solfea , who have lost numerous court cases in relation to fraudulent sale of PV systems in france.
Witamy: Grupa Jurgena Powiemy jasno zostawmy Afrykę w spokoju, nie którzy chcą zadłużyć afrykę na 100 lat wciskając im energie która już za parę miesięcy będzie nic nie warta nawet na giełdach światowych. Panele słoneczne + bateryjne magazyny energii to już jest przeszłość, Afryka potrzebuje taniej energii , którą sami mogli produkować. Afryka nadal nie ma dostępu do elektryczności ponad 600 milionów Co się do tej pory zmieniło , czy już stać ich wszystkich na tak wysokie koszty. Nie okradajmy ich nie zadłużajmy ich jak do tej pory. już niedługo oni sami rozpocząć produkcje u siebie taniej energii.Kassel Germany
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.