BB Energy targets Africa solar, storage space markets with Solarcentury Africa bargain

• Independent energy trader BB Energy (BBE) has actually set its sights on Africa's solar and storage space market by getting Solarcentury's Africa-facing division for an undisclosed sum.

The offer, revealed by Solarcentury recently, will certainly see BBE's Renewables Division gain access to Solarcentury Africa's 2.1GW-strong pipe of solar as well as energy storage space projects, which the business claimed were all backed by solid regional as well as international business as well as industrial (C&I) clients.

BBE traditionally has concentrated on oil and also gas trading, but introduced a Renewables Division last year which it has actually looked to grow by means of M&A task.

Mohamed Bassante, chief executive at BB Energy, stated the firm had an ambition to "stay a leader in the market while supplying a lot more green energy to our planet" according to its group targets.

Meanwhile Chahid Jarmouni, worldwide head of renewables at BB Energy, defined the Solarcentury Africa deal as a "major step" in the firm's "energy change trip".

"Solarcentury Africa will certainly indeed offer a full collection of internal technological proficiency and experience in the fast-growing Solar & Battery industry, along with a mix of live and near-term growths. More notably, by targeting large C&I s (mining, upstream, hefty industry) in Africa, SCA value proposal perfectly enhances our group's energy offer in the continent," he included.

The primary organization system of Solarcentury was obtained by Norwegian renewables giant Statkraft late last year in a deal worth practically ₤ 120 million (US$ 161 million). That purchase gave Statkraft accessibility to a 6GW solar pipeline which spanned countless markets, while Solarcentury's internal experience would aid it "step up" Statkraft's very own renewables passions, the business stated at the time.

Jason de Carteret, director at Solarcentury Africa, explained his business and also BB Energy as an "excellent match", while Solarcentury director Frans van den Heuvel claimed the bargain would certainly allow his company to concentrate on its core markets.

Solarcentury Africa will certainly retain its original brand name identity for a transitional duration, Solarcentury claimed.