ENGIE, a French multinational electric utility company, has acquired Mobisol, a pioneer of off-grid solar solutions with operations in Kenya, Tanzania and Rwanda in a bid to expand its decentralized energy offering in Africa.
With the acquisition of Mobisol, ENGIE is set to offer solar home systems in three additional countries, complementing the six countries where the firm is already present with its solar home system company Fenix International.
In a statement announcing the announcement, ENGIE said that with Mobisol’s focus on productive use products, combined with Fenix’s inclusive home solar power systems, the firm will be able to offer an unparalleled range of affordable energy products as well as extend their 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.
“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,” Isabelle Kocher, ENGIE CEO said.
ENGIE which has significant activities in off-grid electrification in Africa will be picking up the operations of Mobisol which was founded in 2011 and has installed more than 150,000 solar home systems, providing clean and reliable energy to over 750,000 people in Sub-Saharan Africa.
ENGIE through its subsidiary Fenix International, provides access to energy and financial services via its solar home systems to over 500,000 customers and ultimately improving the quality of life for over 2.5 million people in Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire and Mozambique.