Operator of micro-utilities PowerGen Renewable Energy has acquired a subsidiary of E.ON to improve energy access in Africa through accelerating the development of microgrids.
PowerGen Renewable Energy has closed the acquisition of Rafiki Power to build momentum for private utilities on the continent.
The deal provides PowerGen with micro-grid assets, a project pipeline, software IP, and human resources from E.ON Off-Grid Solutions.
The news comes as over 600 million people in Africa do not have access to energy, of which 80% of them are in rural areas.
The deal is also expected to expand Africa’s portfolio of clean energy whilst boosting economic development and reducing poverty in rural areas.
Aaron Cheng, President of PowerGen Renewable Energy, said: “PowerGen and E.ON Off-Grid Solutions have shared a common vision for a long time: to transform lives by building the energy system of the future in Africa. We are excited to combine our experience, knowledge, resources, and cultures in order to further our progress towards this shared vision. We greatly admire the E.ON Off-Grid Solutions team and are thrilled to be working closely with them as we build the smart, clean energy system of the future in Africa through micro-grids.”
PowerGen Renewable Energy now has over 10,000 utility customers under management, serving over 50,000 people with clean and reliable energy across several African countries.