France’s Engie acquired Brittany-based independent power producer (IPP) Langa Group last week for an undisclosed sum.
Langa’s portfolio is expected to reach 215 MW of installed capacity by the end of 2018, of which 165 MW is in solar energy and 39 MW is in wind, with the remainder in biogas and biomass. Langa also boasts a 1,300 MW project pipeline.
Once one of the world’s biggest companies active in the nuclear and natural gas sectors, Engie has made a U-turn and is growing rapidly in the renewable energy sector.
The company has also aims to install 2,200 MW of solar PV and 3,000 MW of wind capacity by 2021.
Engie has revealed that Langa Group would now become part of Engie’s French unit, Engie Green. It is expected to contribute by developing roof and ground-based power plants.
For Engie, it marks the latest high-profile acquisition in the renewable energy sector after it acquired US lease-to-own solar company Felix International in October 2017.
Felix International specialises in selling small, off-grid rooftop systems to customers in East African nations, primarily in Uganda and has more than 140,000 customers for its ReadyPay platform.
Engie is seeking to become a leading off-grid energy services company in Africa and reach millions of customers by 2020.
Earlier last year in May, Engie also acquired Netherlands-based Sungevity International after it filed for bankruptcy.
Active in the Netherlands, Belgium, Germany and the UK, the firm was integrated into its subsidiary Engie Electrabel.
Also last year, Engie acquired a 30% stake in Chinese solar developer Unisun Energy, which has already installed more than 500 MW of PV systems in China.
Unisum is targeting deployment of approximately 4,000 MW of PV capacity in China by 2030.
Meanwhile, last year Engie also issued its second Green Bond and took full control of its solar and wind unit Compagnie du Vent, which it previously owned 59%, after it acquired the remaining 41% stake from France-based holding company Soper.
The unit has developed wind and solar projects totalling 1,730 MW and 522 MW respectively.