BB Energy acquires Solarcentury Africa
BB Energy, one of the world’s leading independent energy trading companies, has acquired Solarcentury Africa for an undisclosed sum.
As a result of this move, BB Energy will gain access to a solar pipeline of more than 2GWp in a region where the energy trader has significant prior experience across 16 countries. Much of the pipeline is in the development of solar and storage for mining operations where the dramatic drop in the LCOE from solar is creating strong demand.
Solar capacity has grown 27 times over the last decade and solar energy is expected to become the fastest-growing source of power ever witnessed.
Jason de Carteret, Director at Solarcentury Africa: “BB Energy and Solarcentury Africa are an excellent match. Solarcentury Africa provides BB Energy with the opportunity to step into renewables in a part of the world where the demand for solar is accelerating and where BB Energy can bring to bear their experience of working across the continent.”
Frans van den Heuvel, Director at Solarcentury: “The sale of Solarcentury’s African business will allow Solarcentury to focus on its core markets in concert with Statkraft.” Statkraft acquired Solarcentury in November 2020.
The African business will continue to trade as Solarcentury Africa for a transitional period.