The EDF Group has acquired 50% share in Econet Energy Kenya and Bboxx Kenya. The two investments illustrate the dynamism of EDF’s activities in Africa. – By Gerald Gekara.
EDF is a subsidiary of the DPA Group specializing in distributed solar energy.
The new partnership is poised to develop competitive high-performance self-consumption solar solutions that enable their customers to be self-sufficient in low-carbon electricity.
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.
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.
Béatrice Buffon, EDF Group Senior Executive Vice-President in charge of International Division, said the partnership would encourage more long term local partnerships.
“By partnering with Bboxx Kenya and Econet Energy Kenya, the EDF Group becomes a key player in the Kenyan market of low carbon energy solutions. It also proves the relevance of our development model based on building long-term partnerships with local players around solutions tailored to the specific needs of each market.”
Mansoor Hamayun, PDG et co-fondateur de Bboxx, added that the move that banks on their success in Togo will go along way in expanding access to solar power in the country.
“Expanding our strong partnership with EDF after success in our Togo joint venture demonstrates our commitment to scale and expand access to essential off-grid solar energy. By forging strategic partnerships with major global firms, we can mobilize substantial investment to accelerate progress towards UN’s SDG 7 – clean energy for all.”
