Engie has acquired Mobisol to become the market leader in off-grid solar energy services in Africa. The company will now provide solar home systems to three more countries.
Engie will combine Mobisol’s solar energy products with Fenix’s solar home systems to diversify its portfolio of affordable energy products.
At the same time, the company will now extend its customer base to rural areas. The expansion will allow millions of people who cannot access electricity from the power grid to access affordable power.
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“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,” reads an Engie press statement.
In 2017, Engie acquired Fenix, which provides solar home systems to over 500,000 customers. Furthermore, Fenix serves approximately 2.5 million people in 6 countries. Mobisol’s acquisition adds over 150,000 solar home systems to Engie’s customer base. Therefore, the combination of Mobisol, Fenix and Powercorner’s 24/7 services will help Engie provide solar services to 9 countries in Africa. This makes Engie the market leader in off-grid solar energy in the continent.
Speaking on Mobisol’s acquisition, Engie Africa’s CEO said, “Off-grid renewable energy solutions represent a rapidly scalable electrification solution, 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 the leading off-grid energy services company within the African continent.”