Engie to Acquire Fenix International
October 19 2017 - 8:31AM
Dow Jones News
By Alberto Delclaux
Engie SA (ENGI.FR) said Thursday that it will acquire Fenix
International, a supplier of domestic solar power systems in
Africa.
Fenix International's solar home systems produce electricity for
off-grid households, Engie said. The company's main focus is on
Uganda, where it has 140,000 customers, but it has recently
expanded into Zambia and plans to reach other countries, Engie
said.
"Fenix will be the agile growth engine for Engie's solar home
systems 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," Bruno Bensasson, chief
executive of Engie Africa, said.
The investment forms part of Engie's aim of providing 20 million
people with access to decentralized energy by 2020, the French
company said.
The value of the transaction was not disclosed and the deal is
subject to approval by the relevant regulatory bodies, Engie
added.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
October 19, 2017 09:16 ET (13:16 GMT)
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