May 25, 2024

ENGIE and Meridiam purchase BTE Renewables

Facebook
Twitter
LinkedIn
ENGIE and Meridiam acquire BTE Renewables
ENGIE and Meridiam acquire BTE Renewables

ENGIE and Meridiam announce that they signed a Sales and Purchase Agreement with ACTIS on the full scope of BTE Renewables, a developer, owner and operator of renewable assets on the African continent, with an operating presence in South Africa and Kenya. The deal includes a carve-out of the Kenyan assets by ENGIE to Meridiam at closing.

The acquisition of BTE will bring an additional 340 MW net of renewable operating assets to ENGIE (150 MW of onshore wind and 190 MW of solar photovoltaic (PV), a portfolio of more than 3 GW of advanced development pipeline/projects in a growing renewables market with robust regulatory framework and a team of around 80 recognized professionals. This acquisi- tion reinforces ENGIE’s strong presence in South Africa and will capitalize on the Group’s industrial value in the country, where ENGIE already operates 315 MW of renewable assets (200 MW of concentrating solar-thermal power plants (CSP), 21 MW of solar PV assets and 94 MW of onshore wind assets).

Engie & Meridiam  logo

Meridiam acquires the 100 MW Kipeto Wind Farm, which is located approximately 70 kilome- ters south of Nairobi, and has been operational since July 2021. Also included is the 50 MW Siruai greenfield wind project with storage under development. Located adjacent to the current Kipeto site, it is scheduled to become Kenya’s first battery storage facility. In parallel, more than 100 MW of additional solar PV projects’ opportunities have been identified.

Paulo Almirante, ENGIE Senior Executive Vice President Renewables, Energy Management and Nuclear
Paulo Almirante, ENGIE Senior Executive Vice President Renewables, Energy Management and Nuclear

Paulo Almirante, ENGIE Senior Executive Vice President Renewables, Energy Management and Nuclear said: “The acquisition of BTE is bringing to ENGIE high-quality operational assets and a strong project pipeline. We are looking forward to welcoming the BTE team within the Group. The integration of BTE will contribute to our growth ambitions in the AMEA region. It will also contribute to South Africa’s ambitious energy plan and renewable targets.”

Mathieu Peller, Partner and Deputy CEO of Meridiam
Mathieu Peller, Partner and Deputy CEO of Meridiam

Mathieu Peller, Partner and Deputy CEO of Meridiam said: “This transaction reinforces our footprint both in Kenya and more globally in Africa where we invested more than €5 billion to date. Kipeto, our first wind farm asset on the continent, will greatly complement our existing renewable portfolio which already comprises solar, hydro, biomass and geothermal assets. Taking also into account the pipeline assets, this project will double our total renewable gene- ration capacity in Africa and bring it to over 500 MW”.

Completion of the transaction is expected by Q4 2023, subject to the fulfilment of certain authorizations including merger control clearance from relevant competition authorities.

Source

This image has an empty alt attribute; its file name is Banner_1300-x-600-pix-2-min-1024x473.jpg

Also read:

ENGIE KSA appoints Mohammed Alhajjaj as CEO

Share.

RELATED POSTS

Kamran Mazhar Jaffery, CEO, Al Alamiya Insurance.
Al Alamiya Insurance names Kamran Mazhar Jaffery as CEO
Kifah Bin Hussein, General Manager, Hyatt Regency Riyadh Olaya
Hyatt Regency Riyadh Olaya appoints new General Manager
Carnegie Mellon Qatar appoints three new associate deans.
Carnegie Mellon Qatar onboards three new associate deans
  • Telcotech

LATEST POSTS

INTLBM MAGAZINE COVER FOR WEB
Join us on May 29th, 2024, at the Holiday Inn Business District in Riyadh, Saudi Arabia, for Cyber Next Summit & Awards 2024 - KSA Edition.
Image used for illustrative purpose
A dash camera is like having a silent witness on the road, ready to capture those unexpected moments and setting Dash cams on cars is also vital