Ignite Power Signs Agreement To Acquire ENGIE Energy Access Combined Entity To Launch As Ignite Energy Access

(MENAFN- EIN Presswire)

Combined Entity to Launch as Ignite energy Access, Expands to Deliver Solar Power to 15 Million People Across 14 African Countries

DAR ES SALAAM, TANZANIA, January 28, 2025 /EINPresswire / -- Ignite Power , an Abu Dhabi-based leader in distributed renewable energy (DRE) solutions today announced the signing of a Share Purchase Agreement to acquire 100% of ENGIE Energy Access, one of Africa's most recognized and impactful energy providers. This transaction will create Africa's largest provider of the full range of distributed renewable energy (DRE) solutions. The combined entity will be launched as "Ignite Energy Access," expanding operations to 14 African nations and providing sustainable energy solutions to more than 15 million people.

While the agreement has been signed, the transaction is subject to regulatory and antitrust approvals, which are expected to be completed within the coming months.

ENGIE Energy Access's broad footprint, strong customer base, and market-leading operational capabilities make it an invaluable addition to Ignite. With a shared mission of transforming lives through sustainable energy, this transaction represents a transformative opportunity to accelerate electrification across Africa.

With the purchase from ENGIE, the French energy utility company, Ignite would more than double its footprint across Africa. This would be Ignite's fourth transaction in the past 24 months, solidifying its position as the leading consolidator in the energy access sector. By combining EEA's robust on-ground experience with Ignite's scalable business model, the newly formed Ignite Energy Access is positioned to set new standards for sustainable energy delivery.

With a dramatic drop in the cost of solar panels and batteries along with the increasing adoption of mobile payment systems, Ignite provides an easy-to-install, affordable, sustainable, and reliable source of power for homes, businesses, farmers, schools, and other institutions. With over 600 million African people lacking access to electricity and billions more reliant on unstable and unsustainable grids, Africa offers a tremendous opportunity for accelerated growth.

This transaction would reinforce Ignite Power's leadership in Africa's DRE sector, unlocking unprecedented opportunities to transform lives and communities. By leveraging its scalability and proven operational excellence, Ignite is poised to accelerate access to clean, reliable, and affordable energy for 100 million people by 2030.

Yariv Cohen, CEO of Ignite Power, stated:“Acquiring ENGIE Energy Access would mark a transformative milestone for our company and Africa's energy sector. ENGIE Energy Access has built an exceptional legacy of innovation, operational excellence, and commitment to sustainable impact. By integrating their strengths with our own proven model, we will be creating a full-spectrum energy access company that can scale to meet the continent's immense energy needs. Together, we will not only connect millions of people to clean and reliable energy but also drive economic growth, create jobs, and empower communities across Africa. This transaction accelerates our journey to achieving our vision of providing sustainable, affordable energy solutions to 100 million people by 2030.”

Strengthening Market Position:

This transaction would significantly increase Ignite Power's total addressable market to more than 250 million people, supported by economies of scale, enhanced digital operations, and a proven business model. Ignite's advanced digital capabilities and operational excellence ensure reliable and efficient energy delivery, offering unmatched affordability and reliability. With proprietary platforms for mobile payments, fleet management, and data analytics, Ignite is driving unmatched efficiency and portfolio performance across all markets.

The transaction would also confirm Ignite's recent success in securing $15 million from Afrigreen to support its growing Commercial & Industrial (C&I) solar projects, demonstrating strong investor confidence and financial stability. With over 50 megawatts of deployed capacity, a rapidly growing footprint, and a full spectrum of distributed solar solutions, the unleveraged combined entity will be well-positioned to meet the diverse and growing energy needs of African markets, including both underserved rural areas and emerging urban markets. This dual approach will ensure the company maximizes its growth potential while delivering impactful solutions at scale. With plans to connect millions more households annually, Ignite is set to connect 100 million people by 2030, solidifying its role as a central player in Africa's energy transformation.

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