The latest in a series of high profile renewable energy acquisitions for the French energy giant, ENGIE has announced the acquisition of a 100% stake in Fenix International, a U.S. company active in the residential lease-to-own sector in several African countries.ENGIE and Fenix International have agreed a transaction for ENGIE to acquire 100% of the latter, which specializes in selling small, off-grid rooftop systems to customers in East African nations, primarily in Uganda.
Financial terms of the transaction have not been revealed. According to ENGIE, Fenix has 350 employees, and more than 140,000 customers for its ReadyPay platform, which allows users to gradually build towards ownership of their rooftop system whilst paying for the power generated and building up a credit score.
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