Equator Energy is a fully integrated solar energy supplier headquartered in Nairobi, Kenya. Equator Energy is also present in Uganda, as well as regional collaborators in South Sudan, Somalia and Zimbabwe. The design, installation, operation and maintenance of the solar power plants is all done in-house. Equator Energy was launched in 2016 by Maris Ltd and Nvision Ltd. The solar power portfolio is currently at 35 MW in operation, with an additional 17 MW under acquisition.
Some of his recent projects are:
- 4.4 MW hybrid solar diesel installation for Turk Mine, gold mine, Zimbabwe
- 5 MW hybrid solar diesel installation for Golden Quarry, gold mine, Zimbabwe
- 5 MW grid-tied solar installation for AfroPlast factory, Uganda
- 1 MW grid-tied solar installation for Milly Glass factory, Kenya
Maris Ltd and Nvision Ltd recently announced the sale of a majority stake in Equator Energy Ltd to IBL Energy Holdings Ltd, a wholly owned subsidiary of the Mauritian conglomerate, ILL Groupand STOA, an energy and infrastructure impact fund created by Caisse des Dépôts et Consignations (CDC) and Agence Française de Développement (AFD). Completion of the transaction is subject to the satisfaction of certain conditions precedent, including obtaining and complying with relevant legal and regulatory requirements.
The IBL Group works and invests in nearly 300 companies in 9 industries in 18 countries worldwide. IBL Group has embarked on an ‘Beyond Borders’ expansion strategy which also includes an equity investment in Naivas, Kenya’s leading supermarket chain, and (subject to conditions) a further equity investment in Harley’s, one of Kenya’s leading medical and pharmaceutical distributors. Naivas has more than 90 supermarkets in Kenya.
STOA is an impact investor in large-scale infrastructure and energy projects in emerging and developing countries. With a committed capital of € 600 million, of which 50% in Africa, STOA has the ambition to provide the population with 1,500 MW of accessible, functional, renewable energy by 2024.
Maris says this exit reflects her successful strategy of investing early in ventures with scalable business models and a positive impact in Africa.
“We are excited that IBL and STOA are leading Equator Energy through the next phase of growth,” said Charlie Tryon, CEO of Maris. “Their experience and capabilities will enable the company to reach new heights and markets and strengthen its leading position in the C&I solar energy sector in Africa.”
“IBL and STOA’s expertise, capabilities and industry experience will support Equator Energy’s growth trajectory,” added Sebastian Noethlichs, CEO and Founder of Equator Energy. “With their support, we can deliver even more innovative solar energy solutions to customers in existing and emerging markets. Their investment demonstrates their confidence in Equator’s business model, team, customers and markets.”
“Following acquisitions for our Commercial & Distribution cluster, I am pleased that IBL is now seeing an investment in the energy sector,” said Arnaud Lagesse, Group CEO of IBL. “As we developed our strategy in 2021, we identified renewable energy as a sector with significant opportunities to deepen our presence in the African market. As Equator Energy offers simple and integrated solutions in emerging markets where solar energy has added value, this partnership aligns with our goal to be a pioneer in the energy transition.”
“We are pleased to support Equator Energy’s exceptional growth,” said Marie-Laure Mazaud, CEO of STOA. “Within a few years, the company has managed to build a very strong asset portfolio along with an impressive pipeline of very satisfied customers. As an impact fund, STOA is very proud to see that our investment will provide the affordable electricity needed to continue the industrialization of our key focus countries in Sub-Saharan Africa. In addition, the renewable energy generated will assist Kenya and the other countries in their goals of increasing their clean electricity generation capacity.”
The expansion of IBL energy in the C&I solar sector on the African continent is great for promoting the adoption of C&I solar energy. As IBL Group’s growth strategy includes acquiring companies that have a lot of real estate to add solar, such as Naivas and its 90+ stores in Kenya, I believe this will drive solar adoption across the business of the group needs to catalyze on the content as and the broader C&I sector.
This is also the second step this year in the broader energy space for ILL energy. Last month, IBL energy and Vivo Energy launched E-Motion, a company that will facilitate the charging of electric vehicles through an extensive network of fast charging stations across Mauritius.
Emotion is the first ever network of electric car charging stations in Mauritius. To date, twenty terminals have been installed in various places on the island to meet the needs of people with electric vehicles in terms of reliability and speed. The identified locations are near highways, shopping malls, gas stations, health facilities and hotels.
E-Motion will offer an annual subscription with three packages. Upon registration, the customer receives an RFID card with different options, depending on the wishes of the user. Companies with a fleet of vehicles have a business option that meets their requirements. E-Motion’s terminal network is connected to Electromaps, a mobile application that allows the user to find the nearest charging station.
EVs and PV are a match made in heaven, and I already see some great synergies going forward for the C&I solar business and the EV ecosystem. The C&I sector in Africa also has a lot of future potential, as back-up diesel generators are a “permanent” feature in the C&I sector in many African countries. The IEA’s Africa Energy Outlook 2022 report summarizes the extent of backup generator use on the continent by saying, “In sub-Saharan Africa alone, such capacity (of backup generators) was 45 GW in 2021 , more than all renewable energy-based generation capacity in the region. Of this, 13 GW is in Nigeria, where 25 terawatt hours (TWh) or 40% of total electricity is generated automatically by industrial and commercial businesses and households using oil products.”
There is a great opportunity for solar plus battery storage to address these issues in the C&I sector in Africa, so it’s very good to see all these developments in the C&I solar sector in Africa.
Image courtesy of Equator Energy
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