Engie sees African renewables industry as ripe for consolidation

Engie, the French utility that led a $1-billion buyout of a rival’s renewable energy assets in Africa last year, expects more deals to be seen in the industry across the continent. While focusing on integrating the assets it bought from Actis rather than seeking more acquisitions, Engie is looking to develop a pipeline of seven gigawatts of projects, said Mohamed Hoosen, the company’s managing director for Asia, Middle East and Africa. It may also invest in transmission projects in South Africa, once those are opened up for private participation, he said.