EDF takes stake in Econet Energy Kenya and Bboxx Kenya

EDF becomes a 50% shareholder of Econet Energy Kenya, a subsidiary of the DPA Group specializing in distributed solar energy for the BtoB market. By joining forces, the partners will develop competitive high-performance self-consumption solar solutions that enable their customers to be self-sufficient in low-carbon electricity at the same time as speeding up the country’s electrification.

The joint venture aims to stand out on the market with a comprehensive approach, integrating the design, construction, operation and maintenance of installations along with a financing scheme adapted to each customer. With a first successfully carried out project in the health sector, Econet Energy Kenya has already secured a 10-contract portfolio. Over the next few years, the joint venture aims to develop projects in the banking, health, tourism and data centre sectors. The EDF Group will bring its technical expertise in distributed solar energy (solar rooftops with battery storage) and its experience in comprehensive offers with financing schemes. The DPA Group, for its part, will bring its commercial expertise and market leadership to the joint venture.

In parallel, EDF has acquired a 23% stake in Bboxx Kenya. Bboxx Kenya – a next generation utility – is Kenya’s leading off-grid provider for domestic use with more than 500,000 solar kits users. Building on their cooperation in Togo, the partners aim to deliver reliable and affordable low-carbon electricity to more than 2 million Kenyans by 2025. Already present on the Kenyan market of solar irrigation pumps for small-holder farmers with its partner Sunculture, EDF is now extending its Off-Grid offer to the residential market. EDF will contribute to Bboxx Kenya’s growth by capitalizing on its experience as a leader in Off-Grid solutions in West Africa.

These two new shareholdings confirm EDF’s quickening pace of development in Africa. The Group is present in 14 countries through a wide range of low-carbon energy solutions, from renewable generation to grids and energy services.

Source: EDF

 


 

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