Press release

Driving the solar revolution in Africa together: EWIA Green Investments acquires SunErgy

  • Expansion into Cameroon
  • Diversification into the mini-grid and off-grid market
  • SunErgy shareholders join EWIA

Munich, April 7, 2025. EWIA Green Investments GmbH (EWIA), SunErgy GmbH, and KGAL are merging their two-year-old partnership focused on sub-Saharan African solar projects. According to the new agreement, EWIA will purchase all of SunErgy’s shares, and SunErgy’s current shareholders will acquire stakes in EWIA Green Investments GmbH. The goal of the merger is to create a top solar energy provider for Africa, managing projects from the planning and financing stages through to implementation.

According to Ralph Schneider, Managing Director of EWIA, investments in solar energy and infrastructure promote growth and prosperity in Africa while also addressing the climate crisis. He also stated that this market presents significant opportunities for global investors.

Dr. Alexander Ergenzinger, Investment Manager at KGAL (SunErgy’s main shareholder) and Managing Director of SunErgy GmbH, emphasizes that Africa, with an average age of 19, has the youngest population and the greatest potential for growth.

600 million Africans still lack access to electricity. In many African nations, high and rising electricity costs, along with frequent and prolonged power outages, pose a serious threat to economic and social stability. These outages necessitate the use of costly diesel generators (ranging from €0.50 to €0.80/kWh), which is economically and ecologically unsustainable.

Africa, the solar continent

Sub-Saharan Africa has immense potential for solar energy generation due to its proximity to the equator and an annual sunshine duration of 1,800 to 3,000 hours.

SunErgy (https://sunergy-power.org/), established in Norway in 2010, aims to deliver off-grid solar energy to communities in emerging markets through small, turnkey solar power plants directly connected to customers’ buildings via mini-grids.

Synergy thanks to SunErgy

SunErgy enhances EWIA’s business. To date, the company has concentrated on selling solar systems to commercial and industrial clients using a solar-as-a-service model designed for medium-sized businesses. EWIA handles the planning, financing, construction, and operation of these systems, which are intended to be largely self-financed through savings on diesel and grid electricity costs for clients. Operations have primarily focused on Ghana and Nigeria. Following the acquisition, EWIA’s workforce has grown to 76 employees.

Mini Grids for villages in Cameroon

SunErgy’s operations have been conducted through SunErgy GmbH in Germany and its two Cameroonian subsidiaries, SunErgy Ltd. and 2 Mites Ltd. SunErgy Cameroon is responsible for building and operating solar power plants in Cameroon, as well as constructing solar power plants in other African countries. In September 2014, the company reached an agreement with the Republic of Cameroon to provide solar power to 92 villages in the southwest region, serving approximately 115,000 families (600,000 people), as well as schools, health centers, and private and public enterprises. To date, twelve municipalities have been electrified using mini-grids.

Ralph Schneider states that the merger of EWIA and SunErgy is a significant step towards achieving their goal of becoming a leading provider of solar solutions for sub-Saharan Africa. He added that in addition to geographic expansion and diversification into the stand-alone solutions market, gaining established and experienced investors and investment professionals with infrastructure expertise like KGAL is a crucial benefit.

According to Michael Ebner, Managing Director of Asset and Portfolio Management at KGAL, KGAL has been providing investors with renewable energy investment strategies for over 20 years. He also mentioned they are pleased to entrust SunErgy to EWIA and support its continued growth, stating that the African renewable energy market offers numerous opportunities for impact investors.

About EWIA Green Investments

EWIA offers small and medium-sized African businesses access to clean solar energy and serves as a bridge between European investors and technology know-how. Based in Munich, Germany, with operational entities in Ghana and Nigeria, EWIA provides private and institutional investors with access to attractive impact investments in climate change mitigation and sustainable economic growth in Africa. EWIA’s flexible full-service financing solution allows African companies to obtain solar power, financing, security, and service from a single source. In the infrastructure sector, EWIA funds and builds mobile phone communication masts and traffic monitoring systems, equipping them with PV systems.

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Contact for queries:

EWIA Green Investments GmbH
Ralph Schneider, CEO

+49 162 1366 984

Schwarz Financial Communication
Frank Schwarz

+49 611 58029290

About KGAL

KGAL is a leading independent investment and asset manager with over €15 billion in assets under management. The company specialises in long-term real asset investments for institutional and private investors across real estate, sustainable infrastructure, and aviation. Founded 56 years ago, the Europe-wide group is headquartered in Grünwald near Munich. Its 396 employees contribute to achieving sustainably stable returns by accounting for risk and return (as of December 31, 2024).

Contact for queries:

KGAL GMBH & Co. KG
Markus Lang, Head of Marketing & Communications

+49 89 64143-307

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