BB Energy acquires leading solar player in Africa
BB Energy (BBE), one of the world’s leading independent energy trading companies, has acquired Solarcentury Africa (SCA).
The historical presence of BB Energy in Africa and large network of consumers in the continent make it the perfect match with SCA, an integrated solar power developer offering development, construction, operation and financing to end-users in Africa.
The transaction will also give BBE Renewables Division access to a pipeline of 2.1 GW worth of solar energy & battery storages projects across Africa, all backed by strong regional and international consumer and industrial customers (C&I).
SCA represents the second investment made by BBE Renewables Division in less than a year and their first fully owned subsidiary. Its successful model with mining and large C&I will be replicated with other renewables across multiple regions with a plan to double in size within the next twelve to eighteen months.
After decades of trading, BBE has an unrivalled depth of knowledge in the countries where they operate. This, combined with their logistics expertise and experienced traders, allows them to meet their clients’ needs with reliable and innovative solutions.
Mohamed Bassatne – Group CEO BB Energy: “BB Energy has been a leading energy player for more than 50 years. During this time, we have been pioneers in some of the most important evolutions of our industry such as the trading of cleaner fuels (LPG and LNG). With the creation of our Renewables Division last year, and this landmark acquisition, we ambition to remain a leader in the industry while supplying more green energy to our planet in line with our group and our stakeholders energy transition goals.”
Chahid Jarmouni – Global Head of Renewables BB Energy: “The acquisition of SCA is a major step in our energy transition journey. This investment will help us achieve key milestones in our strategy, less than a year after the launch of Renewables Division. Solar Century Africa will indeed offer a full set of in-house technical expertise and experience in the fast-growing Solar & Battery industry, together with a mix of live and near-term developments. More importantly, by targeting large C&Is (mining, upstream, heavy industry) in Africa, SCA value proposal perfectly complements our group’s energy offer in the continent. ”
Karim Bassatne
Head of Corporate Communications
T: +971 4 432 8300
E: corporatecommunications@bbenergy.com
