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Africa GreenTec and Nexus Energy have formed a holding company to combine resources and increase solar solutions deployment on the continent.
- The merger will see both companies increase containerised mini-grid solutions for rural communities in the Sahel.
Africa GreenTec and Nexus Energy have agreed to collaborate on green energy projects on the continent. It is expected that this collaboration would accelerate solar energy deployment, especially in rural areas in the Sahel.
In the Sahel, Africa GreenTec is deploying containerised solar systems capable of powering small villages. Each containerised system is linked to an energy storage system to store energy during periods of low generation. Africa GreenTec currently has 21 off-grid solar systems in operation with three currently under construction.
Read also: Solar, Solution to Africa’s Declining Electricity Access – IEA
The merger with Nexus Energy, owned by Italian-based impact investor Green Climate Ventures will help the company expand its sub-Saharan Africa activities.
The two companies in a joint statement states, “as a result of the merger, Nexus Energy will now be fully integrated into the Africa GreenTec AG holding structure, while Green Climate Ventures will become a significant shareholder in the holding company. Founder and CEO (Nexus Energy) Claudio Pedretti will assume the role of member of the advisory board of Africa GreenTec AG. He will bring his market knowledge as well as his strategic and financial acumen to stimulate the strategic exponential growth of Africa GreenTec AG.”
The new holding company is now expected to operate in an increasingly competitive off-grid market.