EWIA Green Investments is acquiring KGAL-owned SunErgy that operates in Africa
They see their merger as presenting a major opportunity for solar mini-grid expansion
The idea is to create a leading solar solutions provider in Sub-Saharan Africa
Germany-headquartered solar energy company EWIA Green Investments GmbH is taking over SunErgy, a mini-grid and off-grid specialist focused on the Sub-Saharan African market. EWIA says this merger is aimed at establishing a leading solar provider for Africa, overseeing projects from planning and financing to implementation.
Under the terms of the agreement, EWIA will acquire all the shares in independent investment and asset manager KGAL-owned SunErgy, while SunErgy’s existing shareholders will take stakes in EWIA Green Investments GmbH.
Currently, EWIA caters to small- and medium-sized businesses in Africa, providing them with access to solar energy. Norway-headquartered SunErgy, on the other hand, operates in Germany and Cameroon. In Cameroon and elsewhere in Africa, it constructs and operates small turnkey solar power plants that operate as mini grids.
In 2024, the African solar market added over 2.4 GW of new solar capacity, registering an annual decline of almost 22%. Among other factors, Global Solar Council attributes this to a lack of enough finance due to limited participation from private sector investors (see Africa Installed 2.4 GW New Solar PV Capacity In 2024).
With their merger, EWIA and SunErgy see a huge opportunity in the African solar market, as an estimated 600 million people here live off the grid.
“In addition to geographical expansion and diversification into the stand-alone solutions market, another crucial factor is that, with shareholders like KGAL, we gain established and experienced investors and investment professionals with proven expertise in the infrastructure sector, which constitutes a substantial enhancement,” said EWIA Managing Director Ralph Schneider.