KENYA – French multinational electric utility company Engie has acquired Mobisol, a Berlin-based off-grid solar solutions firm whose regional operations are headquartered in Nairobi.
Mobisol is the pioneer of off-grid solar solutions to expand its decentralized energy offering in Africa.
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.
The acquisition now gives Engie foothold in nine countries across Africa as well as extend its customer base from rural to urban areas.
The firm is already present with its solar home system company Fenix International across Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire and Mozambique.
This means ENGIE is now expanding its presence in Tanzania, Rwanda, and Kenya.
The firm has in the six markets provided access to energy and financial services via its solar home systems to over 500,000 customers.
with ENGIE PowerCorner, it will supply 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’s focus on productive use products will enable ENGIE to offer an unparalleled range of affordable energy products as well as extending its customer base from rural to urban areas.
It will combine with Fenix’s inclusive home solar power systems to achieve this.
Isabelle Kocher, ENGIE CEO said: “With the acquisition of Mobisol, ENGIE expands its access to a market of millions who are not connected to the grid and establishes itself as the market leader on the continent.”
“Not only do we change people’s lives with clean energy but we trigger economic activities for households and entrepreneurs who generate additional income once they are connected.”
“With ENGIE Power Corner, Fenix, and now Mobisol, we will pave the way for a new generation of affordable energy services, in line with our strategy focused on the acceleration of the zero-carbon transition.” She added.
The closing of the acquisition of Mobisol will happen once all approvals of the relevant regulatory bodies are received.