A developer of micro-utilities in Africa, PowerGen Renewable Energy, has closed the acquisition of Rafiki Power (E.ON Off-Grid Solutions ).
The acquisition combines two leading micro-grid companies in Africa, and will help build momentum for private utilities on the continent, the company stated in a
PowerGen (founded in 2011) and E.ON Off-Grid Solutions (founded in 2014) have been pioneers in the new sector of private utilities who bring efficiency, technology, and customer service to un-electrified Africans through clean, modern micro-utilities.
These micro-utilities offer high quality alternating current electricity to towns and villages in order to reduce poverty and enable economic development, while building the clean energy system of the future in Africa from the grid edge inwards.
The acquisition will combine two leading players in the sector, resulting in increased micro-grid assets, project pipeline, software IP, and human resources.
Aaron Cheng, President of PowerGen, commented: “PowerGen and E.ON Off-Grid Solutions have shared a common vision for a long time: to transform lives by building the energy system of the future in Africa."
He added: “We are excited to combine our experience, knowledge, resources, and cultures in order to further our progress towards this shared vision. We greatly admire the E.ON Off-Grid Solutions team and are thrilled to be working closely with them as we build the smart, clean energy system of the future in Africa through micro-grids.”