By Giulia Petroni 
 

Electricite de France SA said Thursday that it has acquired shares in Econet Energy Kenya and Bboxx Kenya, accelerating its investments in low-carbon energy in Africa.

The French energy group said it acquired a 50% share in Econet Energy Kenya, a subsidiary of the DPA Group, creating a joint venture to develop projects in a number sectors through its expertise in distributed solar energy and financing schemes.

It has also acquired a 23% stake in off-grid provider Bboxx Kenya with the aim to deliver low-carbon electricity to more than 2 million Kenyans by 2025.

"By partnering with Bboxx Kenya and Econet Energy Kenya, the EDF Group becomes a key player in the Kenyan market of low carbon energy solutions," it said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 25, 2021 03:44 ET (08:44 GMT)