RECPDCL Invites Bids for 223 MW ISTS-Connected Solar Projects

Clean Energy Tech Firm Ecozen Raises $30 Million for Global Expansion

SJVN Green Energy Invites Bids to Source Land for 200 MW Solar Projects in Assam

Avaada Inks ₹45 Billion Refinancing Deal for Four Solar Projects in Rajasthan

Daily News Wrap-Up: Application Process for ALMM Inclusion and Renewal

Australia Adds 5.9 GW of Renewable Capacity to the Grid in 2023

POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

<p>French multinational energy conglomerate <a href="http://www.engie.com/en/" target="_blank" rel="noopener">Engie</a> has completed 100 percent acquisition of <a href="https://www.fenixintl.com/" target="_blank" rel="noopener">Fenix International</a>, a next generation energy company that offers solar home systems (SHS) in Africa.</p>
<p>The acquisition will help Engie accelerate its development in Africa’s off-grid energy market. Fenix will gain access to Engie’s supply chain, expertise, long-term capital investments, and talent across the energy value chain.</p>
<p>In <a href="https://mercomindia.com/engie-off-grid-solar-market-fenix/" target="_blank" rel="noopener">October 2017</a>, Engie had announced that it had reached an agreement to acquire 100 percent of Fenix International.</p>
<p>According to the 2017 Q4 and <a href="http://mercomcapital.com/corporate-funding-up-41-percent-in-solar-industry-with-$12.8-billion-in-2017" target="_blank" rel="noopener">Annual Solar Funding and M&amp;A Report</a> released by Mercom Capital Group, there were 71 corporate M&amp;A transactions in the solar sector in 2017, up slightly from 68 transactions recorded in 2016. Solar downstream companies were involved in 51 of these transactions.</p>
<p>Bruno Bensasson, the CEO of Engie Africa, commented on the development as saying, “We believe this is a major step along the path to universal energy access. The dramatically falling price of solar panels and batteries, combined with the inclusive “pay-as-you-go” financing platform created by Fenix, make solar home systems a key part of the energy mix for Africa’s future in combination with grid extension and micro-grids”.</p>
<p>Combining the strengths of Engie, a global energy player, and Fenix, a company with a team anchored in the heart of Sub-Saharan Africa, will enable faster deployment of solar to the large African population still lacking access to electricity.</p>
<p>In Africa, the demand of renewable energy is increasing as there are over 600 million people without electricity connection. This has opened great investment avenue for banks and other financial institutions in Africa.</p>
<p>Those who do have access to electricity suffer from unreliable grids. However, the country has an abundant supply of solar that remains an unutilized source of electricity generation.</p>
<p>Image credit: Engie</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
</div></div><div class="clearfix"></div></div></div>

Engie Completes Acquisition of Fenix International

fenix

Get the most relevant India solar and clean energy news.

RECENT POSTS