Business - Featured - Regional - March 4, 2021

Econet energy subsidiary partners with French energy firm

Distributed Power Africa (DPA),a subsidiary has partnered the world’s leading low-carbon electricity French firm, Électricité De France (EDF) towards the provision of renewable energy solutions for commercial and industrial customers in Kenya.

This follows Econet founder Strive Masiyiwa’s recognition that the problem of power in Africa can only be solved by giving entrepreneurs like him a free hand to drive capital into the sector.

DPA is present in Zimbabwe, South Africa and Kenya with a portfolio of 39MW of projects signed under the deployment.

DPA and EDF plans to provide hybrid energy businesses in various African countries with countries like Nigeria and Ivory Coast high on their priority list with EDF acting as a technology partner for DPA in African projects.

In a media statement, EDF said this investment marks the first achievement of an industrial partnership between EDF and the Econet Group.

“The equity investment marks the first achievement of an industrial partnership between EDF and the Econet Group, in order to seize the opportunities of the solar self-consumption market on the African continent,” reads the statement.

EDF senior vice president for Africa, Mrs Valerie Levkov said this is a new and innovative line of business for EDF in Kenya and we are happy to engage in it with the DPA group.

“Our joint-venture aims to offer technical excellence and a quality customer relationship. This new business line adds to the off-grid solutions we are already deploying in Kenya and extends the use of solar energy to commercial and industrial players, ” she said.

DPA chief executive officer, Mr Norman Moyo said energy is the next biggest infrastructure opportunity in the journey to transform Africa’s fortune.

“DPA and EDF both bring a deep understanding of the energy sector in Africa and globally. Our partnership will accelerate the rollout of energy in East Africa and significantly impact the continent’s economies,” he said.

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