•  
  •  
  •  

KGAL New Frontiers buys stake in SunErgy eyeing West Africa markets

Photo: Off Grid Electric

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.

More stories to explore
Share this story
Tags
 
About the author

Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription