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Engie buys African offgrid solar firm Mobisol

Credit: REUTERS/CHARLES PLATIAU

French utility Engie said in a statement it had bought African offgrid solar firm Mobisol, adding the acquisition would make it African market leader in that industry.

PARIS, Sept 3 (Reuters) - French utility Engie ENGIE.PA said in a statement it had bought African offgrid solar firm Mobisol, adding the acquisition would make it African market leader in that industry.

Founded in 2011, Mobisol employs 500 staff and some 1,200 freelance installers and is present in Tanzania, Rwanda and Kenya, where it has installed more than 150,000 home solar systems.

Following its acquisition of Uganda-based Fenix International in 2017, Engie has more than 500,000 home solar system clients in Uganda, Zambia, Nigeria, Benin, Ivory Coast and Mozambique. [https://reut.rs/2qjQ0YL]

No financial details were given.

(Reporting by Geert De Clercq; editing by David Evans)

((geert.declercq@tr.com; +33 1 4949 5343; Reuters Messaging: Twitter: @gvdeclercq))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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