ENGIE acquires off-grid solar solutions provider Mobisol an undisclosed amount
French multinational electric utility company ENGIE has acquired Mobisol, a pioneer of off-grid solar solutions to expand its decentralized energy offering in Africa.
The two firms will now be offering solar home systems in 3 additional countries, complementing the six countries where it is already present with its solar home system company Fenix International. Mobisol currently has operations in Tanzania, Rwanda, and Kenya.
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.
“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. With the acquisition of Mobisol, we are now positioned as the leading off-grid energy services company within the African continent.” Yoven Moorooven, ENGIE Africa CEO said.
ENGIE already has 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 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.
Mobisol was founded in 2011 and has operations in Tanzania, Rwanda, and Kenya. The company has installed more than 150,000 solar home systems, providing clean and reliable energy to over 750,000 people in Sub-Saharan Africa.
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