Norway-based solar energy company Empower New Energy is speeding up its growth throughout North Africa, taking advantage of a tidal wave of commercial interest in secure, low-priced clean energy. The company’s business model centers on funding and owning solar installations for industrial and commercial customers, a formula it claims is the “secret” to unleashing the potential of renewables in the region.
The expansion was underscored this week by a new partnership in Tunisia. On October 10, Empower announced a collaboration with AR Solaire, a local renewable energy specialist, and Leoni Tunisia, a subsidiary of the German cable manufacturing giant Leoni Group. The agreement will see the development of 10 rooftop and ground-mounted solar sites to power Leoni’s operations across the country.
The transaction is a quintessential green switch driver from a fiscal perspective. The project will reduce its electricity costs by 40%, which will equate to more than $9 million in savings, Leoni estimates. The action not only improves the firm’s bottom line but also dramatically lowers its carbon footprint.
This is a win-win,” an analyst who is deal-wired pronounced. “Companies are more and more squeezed by fluctuating energy prices and the pressure to achieve sustainability goals. Empower’s willingness to take the up-front capital and technical risk is an appealing business move to go solar.”.
Empower’s strategy relies on a combination of international finance and local partnerships, with objectives to de-risk and speed the take-up of solar by Africa’s commercial sector. Leoni project forms part of a larger expansion into Tunisian markets.
In January, the company inaugurated its first unit in Tunisia—a 948 kWp rooftop solar power plant at Mall of Sousse, built by Indigo Renewables Energy Solutions. The single unit itself will produce 1,400 MWh per annum, which will help to offset more than 1,000 tons of CO₂ emissions per annum.
The North African growth goes beyond Tunisia. Empower inked a record $50 million contract with Egypt’s Engazaat to fund a portfolio of 40 MW solar projects. The company has also made its presence felt in Morocco, where it is constructing 5.8 MW of solar plants for the Saray Immo Group.
South of there, Empower is in active development of projects in its prime markets such as Nigeria and Kenya, positioning itself as one of the top players in Africa’s growing commercial and industrial (C&I) solar market.
These projects are indicative of a continent-wide trend as companies are looking for energy security and savings in the face of increasing electricity tariffs and ongoing grid unreliability. By providing end-to-end solutions encompassing medium- to long-term financing, engineering, and operation, Empower is well positioned strategically to assist Africa’s rapid transition to decentralized, renewable energy systems.
TunisianMonitorOnline (NejiMed)
