French multinational Engie acquires solar firm

French electric utility firm Engie has acquired Mobisol, a Berlin-based off-grid solar solutions firm whose regional operations are headquartered in Nairobi in a move that is set to see it start operations in three additional countries.

Mobisol which was founded in 2011 has installed more than 150,000 solar home systems in Tanzania, Rwanda, and Kenya, where it currently has a presence. Mobisol in March 2017 announced plans to open 20 more stores in Kenya with an eye on increasing rural market share in the country.

The acquisition now gives Engie foothold in nine countries across Africa. The firm is already present with its solar home system company Fenix International across Uganda, Zambia, Nigeria, Benin, Cote d’Ivoire and Mozambique.

The firm has in the six markets provided access to energy and financial services via its solar home systems to over 500,000 customers.