France's Engie acquires $1b Actis assets, targets 7GW renewable projects in Africa, focusing on South Africa, Egypt, and Morocco.

French utility Engie aims to expand its renewable energy footprint in Africa, targeting a pipeline of seven gigawatts of projects following its $1 billion acquisition of assets from Actis LLP. The company plans to focus on South Africa, Egypt, and Morocco while divesting from certain assets. Engie also seeks to invest in transmission projects in South Africa as the market opens to private participation, anticipating further consolidation in the industry to enhance competitiveness.

September 09, 2024
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