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BB Energy buys Solarcentury’s African ops with 2 GWp solar pipeline

BB Energy buys Solarcentury’s African ops with 2 GWp solar pipeline

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Energy trader BB Energy has acquired the Africa-based subsidiary of UK solar developer Solarcentury and its pipeline of over 2 GWp of photovoltaic (PV) projects in the African region.

The deal was announced last week by Solarcentury, which is now part of Norwegian state-owned energy company Statkraft AS. The vendor explained that the divestment will enable it to better focus on operations in its core markets, in concert with its Norwegian owner.

The value of the acquisition was not provided.

Solarcentury Africa’s pipeline mostly consists of development projects for mining operations and includes both PV and battery storage schemes. Following the sale, the business will continue to trade as Solarcentury Africa for a transitional period with an unspecified duration.

“Solarcentury Africa provides BB Energy with the opportunity to step into renewables in a part of the world where the demand for solar is accelerating and where BB Energy can bring to bear their experience of working across the continent,” said Jason de Carteret, director at Solarcentury Africa.

Source: renewablesnow
Anand Gupta Editor - EQ Int'l Media Network