Afreenergy to acquire GreenYellow’s solar assets in Senegal

Afreenergy Solar, a unit of Mauritius-based independent power producer (IPP) Afreenergy, has signed a deal to buy a portfolio of solar assets in Senegal from French sector player GreenYellow, it was announced today.

Under the terms of the agreement, Afreenergy Solar will acquire 100% of GreenYellow’s interest in three operational rooftop solar power systems totalling 2.6 MWp. The solar arrays have been designed to meet the power needs of certain commercial and industrial (C&I) customers through self-consumption.

“This acquisition strengthens our presence in Senegal, a strategic country with significant momentum towards renewable energy, particularly solar. It's a trend that we want to support through partnerships with local players, to give as many people as possible access to clean, affordable energy,” commented Christian Cachat, CEO of Afreenergy Solar.

The transaction also complements the company’s existing portfolio, which includes over 320 MW of solar, storage and hydro projects at various stages of development, construction, and operation in 12 African countries.

Afreenergy said further that in the coming months it will be searching for acquisition opportunities of late-stage projects in the “traditionally underserved market” of West Africa.

On the other hand, the sale of its assets in Senegal reflects GreenYellow’s overall strategy to geographically refocus on Europe, according to Robinson Ralazraki, general manager of GreenYellow Africa.

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