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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Acquisitions»ENGIE and Meridiam Acquire BTE Renewables
    ENGIE AND MERIDIAM ACQUIRE BTE RENEWABLES

    ENGIE and Meridiam Acquire BTE Renewables

    0
    By Oluwasegun Olukotun on July 4, 2023 Acquisitions, Africa, Renewable Energy

    The French Company Engie and Meridiam are set to acquire BTE Renewables, one of Africa’s leading renewable energy companies. Previously controlled by the British investment firm Actis, this producer of renewable energy operates in Kenya and South Africa.

    A portfolio of more than 3 GW of advanced development pipeline/projects in a growing renewables market with a strong regulatory framework and a team of about 80 renowned professionals will be added to ENGIE by the acquisition of BTE. These operating assets include 340 MW net of additional renewable operating assets (150 MW of onshore wind and 190 MW of solar photovoltaic (PV)). In South Africa, where ENGIE already operates 1.3 GW of assets, including more than 300 MW of renewable ones (200 MW of concentrating solar-thermal power plants (CSP), 21 MW of solar PV assets, and 94 MW of onshore wind assets), this acquisition will further strengthen the company’s strong presence and capitalise on the industrial value of the Group there.

    Meridiam acquires the 100 MW Kipeto Wind Farm, which is located approximately 70 kilometers south of Nairobi, and has been operational since July 2021. Also included is the 50 MW Siruai greenfield wind project with storage under development. Located adjacent to the current Kipeto site, it is scheduled to become Kenya’s first battery storage facility. In parallel, more than 100 MW of additional solar PV projects’ opportunities have been identified.

    Paulo Almirante, ENGIE Senior Executive Vice President Renewables, Energy Management and Nuclear said: “The acquisition of BTE is bringing to ENGIE high-quality wind and solar assets and a strong project pipeline. We are looking forward to welcoming the BTE team within the Group. The integration of BTE will also contribute to South Africa’s ambitious energy plan and renewable targets. With this integration, ENGIE is pursuing its development outside Europe and the Americas.”

    Mathieu Peller, Partner and Deputy CEO of Meridiam said: “This transaction reinforces our footprint both in Kenya and more globally in Africa where we invested more than €5 billion to date. Kipeto, our first wind farm asset on the continent, will greatly complement our existing renewable portfolio which already comprises solar, hydro, biomass and geothermal assets. Taking also into account the pipeline assets, this project will double our total renewable generation capacity in Africa and bring it to over 500 MW.”

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    Acquisition BTE Renewables ENGIE Renewable Energy
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    Oluwasegun Olukotun

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