ENGIE and Meridiam have acquired BTE Renewables, one of Africa’s leading renewable energy companies in South Africa and Kenya.
According to a statement released on Tuesday June 20, the acquisition of BTE will fully provide ENGIE with an additional 340 MW net of renewable operating assets (150 MW onshore wind and 190 MW solar PV), a portfolio of more than 3 GW of advanced development pipeline/projects in a growing renewables market with a robust regulatory framework, and a team of approximately 80 recognized professionals.
This acquisition 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).
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.
“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,” said ENGIE Executive Vice President Paulo Almirante.
Completion of the transaction is expected by Q4 2023, subject to the fulfilment of certain authorizations including merger control clearance from relevant competition authorities.
“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,” noted Mathieu Peller, Partner and Deputy CEO of Meridiam.
ENGIE is a global reference in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions.
