Engie and Fenix announce that they have agreed on a transaction in which Engie will acquire 100% of Fenix International.
Bruno Bensasson, CEO of ENGIE Africa: "We believe that combining the strengths of ENGIE, a global energy player and Fenix, a successful company with very strong customer focus, high-quality products and an experienced team anchored in the heart of Sub-Saharan Africa, will enable faster deployment of SHS to the large African population still lacking access to electricity. Fenix will be the agile growth engine for ENGIE's SHS business in Africa and enable us to become a leading profitable off-grid energy services company on the continent, reaching millions of customers by 2020. We do believe that universal access is now reachable in a foreseeable future by the combination of national grids extension, local micro-grids and solar home systems, depending on the local characteristics of the energy demand."
Lyndsay Handler, CEO of Fenix International: "Fenix and ENGIE share the belief that universal access to energy is possible and paramount. To date, Fenix has delivered reliable solar power to over 900,000 people in East Africa. By joining forces with ENGIE - one of the world's largest independent utility companies with a firm commitment to a decentralized, decarbonized and digital energy revolution - we will greatly accelerate the path to our vision." She added: "Our values and our team will remain at the core of Fenix. We will continue to relentlessly pursue an exceptional customer experience in all we do and we will invest even more in building a great team with a strong culture. Together with ENGIE's ambitions, experience, talent and long-term investments, we will deliver affordable power and other life-changing products to customers across Africa and make universal access to modern energy a reality."