Kenya and South Africa located BTE renewable energy producer purchased by Engie and Meridiam

Engie’s portfolio increases by 340 MW in Africa. The French group has joined forces with investment company Meridiam to acquire renewable energy producer BTE Renewables. The Johannesburg, South Africa-based company was previously owned by British investment company Actis. In accordance with the agreement with Meridiam, the transaction brings 340 MW of assets to Engie.

This includes 150 MW of wind power (onshore) and 190 MW of solar photovoltaic power. The French energy company also takes over a portfolio of “more than 3 GW of advanced development projects in a fast-growing renewable energy market with a solid regulatory framework and a team of around 80 recognised professionals”, says the group headed by Catherine MacGregor.

Disposal of renewable energy assets by Actis

For its part, Meridiam is acquiring the 100 MW Kipeto wind farm, located around 70 km south of the Kenyan capital Nairobi and operational since July 2021. The 50 MW Siruai wind project with storage currently under development is also included. Located adjacent to the existing Kipeto site, it is planned to become Kenya’s first battery electricity storage facility. At the same time, over 100MW of additional solar PV project opportunities have been identified by BTE Renewables.

“This transaction strengthens our presence in Kenya and Africa as a whole, where we have invested more than €5 billion to date. Kipeto, our first wind farm on the continent, will complement our renewable energy portfolio which already includes solar, hydro, geothermal and biomass assets. Including the pipeline assets, this project will double our total renewable energy capacity in Africa to over 500 MW”, explains Mathieu Peller, Partner and Deputy Managing Director of Meridiam.

BTE thus becomes the second renewable energy producer sold by Actis in the space of a year. A few months ago, the investment company with $19 billion in assets under management sold wind power producer Lekela Power to Infinity Energy, a company based in Cairo, Egypt, and Africa Finance Corporation (AFC), a pan-African multilateral development finance institution based in Lagos, Nigeria. Actis is also eyeing the Egyptian market for green hydrogen and its derivatives.

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