This means ENGIE is now expanding its presence in Tanzania, Rwanda, and Kenya.
Mobisol has installed more than 150,000 solar home systems, providing clean and reliable energy to over 750,000 people in Sub-Saharan Africa. The firm employs 500 people and has 1,200 contractors.
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The acquisition means ENGIE will be offering solar home systems in 3 additional countries. ENGIE was present in six countries with its subsidiary Fenix.
ENGIE has served more than 500,000 energy customers and some 2.5 million water consumers with Fenix.
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.”
Currently, more than 600 million people have no access to electricity in Africa and by 2030 the continent is expected to be home to 80% of the world’s off-grid population, according to the International Energy Agency.