Actis fully exits BTE Renewables to Engie and Meridiam

AFRICAN STOCKS AND FINANCEDecember 22, 2023 at 6:19 PM UTC

BTE Renewables has concluded its sale to Engie and Meridiam. In this transaction, Engie has acquired BTE Renewables' operations in South Africa, while Meridiam has taken over its operations in Kenya.

The acquisition by Engie and Meridiam is from BTE Renewables' previous owner, Actis. The pan-African renewable energy platform, BTE Renewables, was established by Actis in 2017 through the acquisition of the Kipeto wind project in Kenya during its development stage.

BTE Renewables is dedicated to the pan-African region, with a primary focus on utility-scale wind and solar projects. As of now, the platform includes operational projects in both South Africa and Kenya.

Points clés à retenir

For a country like South Africa currently grappling with frequent power cuts that threaten its economy, news of ENGIE doubling down on its renewable energy operations in the country comes as a welcome development. Given its vast resources, South Africa could realistically, and cost-effectively, supply 49% of its electricity mix from renewables by 2030, nearly a third higher than the share to be expected from current plans and policies. With renewable power, heat, and fuels all factored in, renewables could provide 23% of South Africa’s total final energy consumption in 2030, up from just 9% overall in 2015.

BTE Renewables

Engie

Meridiam

Kipeto

Clean Energy

Renewables

Acqusition

Private Equity

Exit

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