April 10 (Renewables Now) - KGAL New Frontiers GmbH (KNF) has acquired a 22% stake in Norway-based SunErgy AS to support the solar firm’s further growth, the unit of German asset manager KGAL GmbH & Co said Wednesday.
SunErgy provides communities in emerging markets with off-grid electricity using small-scale solar farms shipped in containers from Northern Europe. SunErgy will aim to become one of the leaders in off-grid power supply within eight years. At first, SunErgy will focus its activities mostly in Cameroon with an eye to expand further into West Africa. The firm will commission eight solar farms during 2019.
Financial details on the transaction have not been made public.