Ignite Power has acquired 100% of ENGIE Energy Access to form "Ignite Energy Access"
Its combined operations will provide sustainable energy to over 15 million people across 14 African nations
Supported by a $15 million funding boost from Afrigreen, Ignite targets a market of 250 million people
Abu Dhabi-based distributed renewable energy (DRE) solutions company Ignite Power has signed a Share Purchase Agreement to acquire 100% of ENGIE Energy Access (EEA), a major African energy provider and part of the French utility company ENGIE.
Subject to regulatory and antitrust approvals, the transaction will establish a new entity, Ignite Energy Access, combining operations across 14 African countries to deliver sustainable energy solutions to over 15 million people.
This acquisition will more than double Ignite’s reach, making it the largest provider of DRE solutions in Africa. Ignite states in the announcement that ENGIE Energy Access’s extensive customer base and operational capabilities complement its scalable business model. This deal, Ignite’s 4th major transaction in the past 2 years, cements its role as the leading consolidator in Africa’s energy access sector.
The combined entity will target a total addressable market of 250 million people, supported by Ignite’s proprietary digital platforms and a recent $15 million funding boost from Afrigreen for Commercial & Industrial solar projects. With 600 million people in Africa lacking access to electricity, this strategic move aims to unlock major opportunities for both growth and impact.
Yariv Cohen, CEO of Ignite Power, stated: "Together, we aim to connect millions to clean, reliable energy, driving economic growth, job creation, and community empowerment across Africa. This milestone brings us closer to our vision of delivering sustainable, affordable energy to 100 million people by 2030."