UAE-headquartered solar firm Ignite Power has announced the acquisition of Kenya’s Mwezi Solar’s portfolio in the local market.
The acquisition is set to open the leeway for Ignite Power to expand its presence in the country as it seeks to incorporate Mwezi’s existing portfolio into its standard operating procedures while aiming to increase its impact in the region.
Mwezi, a homegrown solar solutions firm, has been a prime actor in the country’s solar energy sector, having deployed more than 50,000 solar home systems across Kenya and in the process directly impacting more than 250,000 lives.
Ignite says the acquisition aims at strengthening its position in Kenya’s rapidly growing solar energy market.
“We are thrilled to welcome Mwezi, a truly values-driven company, to the Ignite Power family through the acquisition,” said Ignite Power CEO Yariv Cohen.
“This strategic move will enable us to leverage our expertise and experience to further expand our impact in the region while servicing Mwezi’s existing customers and providing them with access to reliable, sustainable, and affordable home electricity.”
Mwezi Solar founder and CEO Mike Sherry expressed optimism that Ignite’s expertise will aid in extending its built scope and stamp a positive impact on Kenyan communities.
“We are thrilled to see the Mwezi solar solutions portfolio in Kenya now a part of the Ignite Power family. I am confident that Ignite’s expertise and experience in the solar energy sector will enable them to expand on the work that we have accomplished and continue to provide high-quality services to our customers,” said Sherry.
The deal follows Ignite Power’s recent acquisition of yet another local solar firm, Pawame Kenya.
Official data shows solar power supplied to the national grid in the nine months to September last year rose 184 percent to a four-year high.
Source; Business Daily