Green energy supplier ENGIE and global investor Meridiam have signed a sales and purchase agreement with global investor ACTIS for the acquisition of developer, owner and operator of renewables assets in Africa BTE Renewables.

BTE Renewables also has an operating presence in South Africa and Kenya.

The deal includes a carve-out of the Kenyan assets by ENGIE to Meridiam at closing.

The acquisition of BTE will bring an additional 340 MW net of renewable operating assets to ENGIE, including 150 MW of onshore wind and 190 MW of solar photovoltaic (PV).

This comes in addition to a portfolio of more than 3 GW of advanced development pipeline and projects in a growing renewables market with a robust regulatory framework, and a team of about 80 recognised professionals.

This acquisition further strengthens ENGIE’s strong presence in South Africa and will capitalise on the group’s industrial value in the country. In South Africa, ENGIE already operates 1.3 GW of assets, including more than 300 MW of renewables assets (200 MW of concentrating solar-thermal power plants, 21 MW of solar PV assets and 94 MW of onshore wind assets). 

Meridiam acquires the 100 MW Kipeto Wind Farm, which is located about 70 km 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 project opportunities have been identified. 

ENGIE renewables, energy management and nuclear senior executive VP Paulo Almirante says 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.”

“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 in Africa – will greatly complement our existing renewables 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,” Meridiam partner and deputy CEO Mathieu Peller says.

Completion of the transaction is expected by the fourth quarter of this year, subject to the fulfilment of certain authorisations, including merger control clearance from relevant competition authorities.