BB Energy targets Africa solar, storage markets with Solarcentury Africa deal

Facebook
Twitter
LinkedIn
Reddit
Email
The Changoi solar project, completed by Solarcentury Africa. Image: Solarcentury.

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

The deal, revealed by Solarcentury last week, will see BBE’s Renewables Division gain access to Solarcentury Africa’s 2.1GW-strong pipeline of solar and energy storage projects, which the company said were all backed by strong regional and international commercial and industrial (C&I) customers.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

BBE historically has focused on oil and natural gas trading, but launched a Renewables Division last year which it has looked to grow via M&A activity.

Mohamed Bassante, chief executive at BB Energy, said the company had an ambition to “remain a leader in the industry while supplying more green energy to our planet” in line with its group targets.

Meanwhile Chahid Jarmouni, global head of renewables at BB Energy, described the Solarcentury Africa deal as a “major step” in the company’s “energy transition journey”.

“Solarcentury Africa will indeed offer a full set of in-house technical expertise and experience in the fast-growing Solar & Battery industry, together with a mix of live and near-term developments. More importantly, by targeting large C&Is (mining, upstream, heavy industry) in Africa, SCA value proposal perfectly complements our group’s energy offer in the continent,” he added.

The main business unit of Solarcentury was acquired by Norwegian renewables giant Statkraft late last year in a deal worth almost £120 million (US$161 million). That purchase gave Statkraft access to a 6GW solar pipeline which spanned numerous markets, while Solarcentury’s in-house expertise would help it “step up” Statkraft’s own renewables ambitions, the company said at the time.

Jason de Carteret, director at Solarcentury Africa, described his company and BB Energy as an “excellent match”, while Solarcentury director Frans van den Heuvel said the deal would allow his company to focus on its core markets.

Solarcentury Africa will retain its original brand identity for a transitional period, Solarcentury said.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA