Engie invests in off-grid solar specialists in Guatemala and India

Facebook
Twitter
LinkedIn
Reddit
Email
Engie is investing in Kingo Energy and Mera Gao Power. Credit: Engie

French utility and renewable energy developer, Engie, is investing in Kingo Energy, a provider of clean energy in Latin America and Africa.

Engie's investment, alongside development banks Proparco and FMO, aims to bring renewable energy to over 1.5 million people who are currently off-grid in Latin America by 2020. Kingo delivers off-grid solar solutions to people in Guatemala offering ‘pay as you go’ payment options.

In the second of a three part investment, Engie will also join ElectriFi and Insitor in a new round of fundraising for Mera Gao Power (MGP).

MGP provides power with solar microgrids to off-grid rural communities in the state of Uttar Pradesh in Northern India.

In 2015 it supplied power to over 1,800 villages, serving up to 115,000 people. The newest round of funding is expected to provide renewable energy to more than 700,000 people by 2020.

Engie’s third investment is a first round financing project for biodigester producer and distributer company ATEC in Cambodia.

Engie president Paulo Almirante said, the investments contribute to Engie’s 2020 goal to provide 20 million people worldwide with access to sustainable decentralised energy.

Read Next

August 8, 2022
India deployed 8,359MW of solar PV in the first half of the year, marking a significant increase of 71% compared to the same period last year
August 3, 2022
Tata Power subsidiary Tata Power Green Energy has commissioned a 225MW hybrid wind and solar project in the Indian solar hotbed state of Rajasthan.
August 3, 2022
Global investment in renewable energy reached a record half-year figure of US$226 billion in H1 2022, driven by soaring demand for clean energy technologies amid the ongoing energy and climate crisis, according to a BloombergNEF (BNEF) report.
August 1, 2022
India installed more than 12GW of solar PV in the financial year 2022 (FY2022) but this is expected to soar to more than 20GW in FY2023 as the country looks to accelerate its solar deployment, according to JMK Research.
July 29, 2022
Thin-film module manufacturer First Solar will consider expanding its production footprint in the US if proposed legislation that includes manufacturing credits becomes law, the company’s CEO has said.
July 26, 2022
UK-based energy group Octopus Energy has raised US$550 million to invest in renewables-enabling technologies and solutions.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event