Press release: ENGIE Accelerates Its Development in the Off-Grid Energy Market by Joining Forces with Fenix, a Pioneer in Africa’s Solar Home System Market
Thursday, October 19, 2017
ENGIE and Fenix announce that they have agreed on a transaction in which ENGIE will acquire 100% of Fenix International, a next generation energy company, offering Solar Home Systems (SHS) in Africa. Founded in 2009, Fenix employs over 350 people and has its main activities in Uganda where it is the leading SHS player with more than 140,000 customers. Fenix recently expanded into Zambia and plans further roll-outs in other countries across Africa. Fenix will be the first SHS company to join a major worldwide energy company, which puts the fight against climate change and energy access at the very center of its purpose.
Bruno Bensasson, CEO of ENGIE Africa: “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 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 micro-grids and solar home systems, depending on the local characteristics of the energy demand.”
Photo courtesy of Business Wire.
Source: Press release (link opens in a new window)