PowerGen Renewable Energy, a developer, builder, and operator of micro-utilities in Africa, has completed the acquisition of Rafiki Power, a subsidiary of E.ON Off-Grid Solutions.
The acquisition combines two leading microgrid companies in Africa and will help build momentum for private utilities on the continent.
Over 600-million people in Africa lack access to electricity, of which 80% live in rural areas.
PowerGen, founded in 2011, and E.ON Off-Grid Solutions, founded in 2014, have been pioneers in the field of private utilities that bring efficiency, technology and customer service to unelectrified regions in Africa through clean, modern micro-utilities.
These micro-utilities offer high-quality alternating current electricity to towns and villages to reduce poverty and enable economic development while building the clean energy system of the future in Africa from the grid edge inwards.
The acquisition will provide PowerGen with microgrid assets, a project pipeline, software intellectual property and human resources from E.ON Off-Grid Solutions.
PowerGen now has over 10 000 utility customers under management, serving more than 50 000 people with clean and reliable energy across several African countries.
“PowerGen and E.ON Off-Grid Solutions have shared a common vision for a long time – to transform lives by building the energy system of the future in Africa,” PowerGen president Aaron Cheng said in a statement.
“We are excited to combine our experience, knowledge, resources, and cultures to further our progress towards this shared vision.
“We greatly admire the E.ON Off-Grid Solutions team and are thrilled to be working closely with them as we build the smart, clean energy system of the future in Africa through microgrids.”
