In a move aimed at accelerating its momentum in the off-grid energy market, Engie is to buy Ugandan solar home system company Fenix International.
The company’s lease-to-own PV system (pictured) provides lighting, phone charging and power for televisions and radios. Off-grid customers can finance their power system through micro-instalments over mobile money, Fenix said.
In addition, the company offers power upgrades such as expanded battery capacity, additional solar panels and appliances such as radios and lanterns.
Fenix recently expanded its business into Zambia and plans further rollouts in other African countries.
Bruno Bensasson, CEO of Engie Africa, said: “We believe that combining the strengths of Engie, a global energy player and Fenix, a successful company with very strong customer focus, high-quality products and an experienced team anchored in the heart of sub-Saharan Africa, will enable faster deployment of solar home systems (SHS) to the large African population still lacking access to electricity.
“Fenix will be the agile growth engine for ENGIE’s SHS business in Africa and enable us to become a leading profitable off-grid energy services company on the continent, reaching millions of customers by 2020.
“We do believe that universal access is now reachable in a foreseeable future by the combination of national grids extension, local microgrids and solar home systems, depending on the local characteristics of the energy demand.”
Source: DECENTRALIZED ENERGY