KGAL New Frontiers acquires 22% stake in SunErgy
Private Equity Fund KGAL New Frontiers, founded in 2018 by German KGAL, acquired 22% stake in SunErgy, a Norwegian company specialized in off-grid power supply to emerging countries.
The transaction amount is yet to be disclosed but monies will foster SunErgy’s expansion to Cameroon where the company sees an opportunity to grow in the next 8 years, with the possibility of making the country a hub.
The coming of SunErgy into Cameroon will help limit the power blackout still facing the country. Off-grid interconnected distribution services are already present in Cameroon, particularly in Douala, through companies which are partners to Gaz du Cameroun.
SunErgy plans to build 8 solar plants this year with the aim of reaching 20,000 people. Back in May 2012, this Norwegian firm had already signed a MoU with Cameroon to connect ninety-two villages with solar power. The project covers about 115,000 households, or 600,000 people.
A good opportunity for SunErgy will be to supply power to telecommunications tower managers. The latter often operate facilities located in remote places where even the supply of fuel for generators can be complicated. It can also supply health facilities as well as other small organizations. Source: Business in Cameroon