Econet’s DPA announces new commercial power supply partnership in Kenya
Low-carbon electricity company Électricité De France (EDF), and Distributed Power Africa (DPA), a company of the pan-African group Econet Global Limited, have entered into a joint venture to develop and deploy renewable energy solutions for commercial and industrial customers in Kenya.
On 25 February EDF acquired a 50% stake in Econet Energy Kenya, a subsidiary in Kenya of DPA.
According to a statement released to the media, this equity investment marks the first achievement of an industrial partnership between EDF and the Econet Group, in order to seize the opportunities of the solar self-consumption market in Africa.
Econet Energy Kenya is deploying an innovative solar self-consumption offer on roofs for Kenyan industrial and commercial players.
The company explains that the offer combines the supply, installation and maintenance of photovoltaic equipment with a financing solution.
“It allows customers to benefit from an autonomous low-carbon electricity production and thus reduce their environmental footprint,” it adds.
Econet Energy Kenya has already secured ten projects with leading Kenyan companies and already implemented its solutions in the health sector. Beyond those projects, Econet Energy Kenya intends to target the banking sector, clinics, touristic resorts, small industries and datacentres.
The DPA and partners believe the solar self-consumption market in Africa is growing, particularly in Kenya, which they claim is the third market on the continent after South Africa and Nigeria.
“Econet Energy Kenya will continue to benefit from DPA’s commercial dynamism and leading position in the solar self-consumption market in Africa, whereas EDF will bring its technical expertise from design to the latest energy monitoring services. This is a first step before considering extending the cooperation to other promising countries already identified in Africa. DPA is present in Kenya, South Africa and Zimbabwe with a portfolio of 39 MW of projects signed and under deployment,” reads an excerpt from the media statement.
With its footprint in 15 African countries, including Kenya with off-grid solar systems, EDF is opening new markets to DPA in the perspective of joint development.
Norman Moyo, DPA CEO said: “Energy is the next biggest infrastructure opportunity in the journey to transform the continent’s fortune. DPA & EDF both bring a deep understanding of the energy sector in Africa and globally. Our partnership will accelerate the rollout of energy in East Africa and significantly impact the continent’s economies”.
Valerie Levkov, EDF’s Senior Vice President Africa, Middle East and Eastern Mediterranean Division, stated: “This is a new and innovative line of business for EDF in Kenya - and we are happy to engage in it with the DPA Group. Our joint-venture aims to offer technical excellence and a quality customer relationship. This new business line adds to the off-grid solutions we are already deploying in Kenya and extends the use of solar energy to commercial and industrial players. It is part of our global low-carbon response to the energy challenges across Africa while contributing to our strategic target of tripling our business at the international level by 2030."