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PowerGen buys micro-grid firm Rafiki Power from E.on

A Rafiki Power installation with covered space for the community. Source: Rafiki Power

August 19 (Renewables Now) - Pan-African micro-grid company PowerGen Renewable Energy has formally acquired E.on Off-Grid Solutions GmbH, which operates under the Rafiki Power brand in Africa.

PowerGen bought Rafiki Power from German energy major E.on SE (ETR:EOAN) for an undisclosed sum. The acquired business was founded in 2014 and provides PowerGen with additional micro-grid assets, a project pipeline, software intellectual property (IP) and human resources.

According to information on Rafiki's website, to date the firm has successfully installed and is operating eight mini-grids in Tanzania, including solar photovoltaic (PV) and battery components.

The buyer is a renewable energy and micro-grid company with offices in Kenya, Tanzania, Sierra Leone and Nigeria. Following the purchase, PowerGen has more than 10,000 utility customers that serving over 50,000 people across several African countries.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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