ENGIE closes deal to acquire off-grid solar developer

The global utility company will adopt Fenix International

By Jonny Bairstow

ENGIE has closed a deal to acquire an off-grid energy firm working to achieve total energy access across Africa.

The global utility company will adopt Fenix International, which says it has already delivered clean, safe and affordable energy to around a million people through its solar home system.

The deal will accelerate and expand the business’ ability to scale its off-grid energy solutions by overcoming financial barriers and giving it access to ENGIE’s supply chain and expertise.

Fenix’s flagship product, ReadyPay Power, sees customers pay as little as $0.19 (£0.14) per day to access power for lighting, phone charging and products such as televisions and radios.

Lyndsay Handler, CEO of Fenix International, said: “It’s unacceptable that over 600 million people across Africa lack access to energy.

“By joining forces with ENGIE, we aim to bring affordable energy and other life-changing products to millions of people living off-grid.”