Ignite Power, an Abu Dhabi-based distributed renewable energy (DRE) provider, has announced it will acquire 100 per cent of ENGIE Energy Access (EEA) from French utility giant ENGIE. The deal, which is subject to regulatory and antitrust approvals, will create the largest DRE company in Africa, operating under the name Ignite Energy Access. The combined entity plans to deliver solar power to more than 15 million people across 14 African countries.
The acquisition significantly expands Ignite Power’s footprint, more than doubling its reach across the continent. It marks Ignite’s fourth acquisition in the past two years, cementing its position as a leading consolidator in the African energy access sector. The company aims to connect 100 million people to electricity by 2030.
Yariv Cohen, chief executive of Ignite Power, described the acquisition as a “transformative milestone” for both the company and the African energy sector. “ENGIE Energy Access has built an exceptional legacy,” Mr. Cohen said. “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.”
The merged company will combine EEA’s established on-the-ground presence with Ignite’s scalable business model. Both companies share a mission of increasing access to sustainable energy. Ignite Power leverages falling costs of solar panels and batteries, along with increasing adoption of mobile payment systems, to provide affordable and reliable power to homes, businesses, farms, schools and other institutions. The company argues that with over 600 million Africans lacking access to electricity, and billions more relying on unstable grids, the continent presents significant growth opportunities.
The transaction increases Ignite Power’s total addressable market to more than 250 million people. The company will leverage economies of scale, enhanced digital operations, and its existing business model. Ignite’s proprietary platforms for mobile payments, fleet management and data analytics are intended to improve efficiency and portfolio performance.
The deal follows Ignite’s recent $15 million investment from Afrigreen for commercial and industrial (C&I) solar projects, which the company says demonstrates investor confidence. With over 50 megawatts of deployed capacity, the combined entity plans to serve both underserved rural areas and emerging urban markets. This dual approach, the company says, will maximise growth potential.
The acquisition comes at a time of increasing investment in renewable energy projects across Africa, as governments and businesses seek to address the continent’s energy deficit and promote sustainable development. The combined scale of Ignite Energy Access is expected to play a significant role in this evolving market. The company says it plans to connect millions more households annually.