German KGAL joins SunErgy

The German Investment and Asset Management company KGAL has taken an ownership position in the Norwegian Solar energy company SunErgy, with an option to crease their ownership additionally.

“We are very pleased for KGAL to join us”, says Chairman of the Board of Directors and a major shareholder, Alf Bjørseth.

“KGAL is an investment firm with twenty billion EUR under management. They are active in real estate, airplane leasing and renewable energy, owning several solar parks in Europe. They have been studying the potential of the off-grid solar market and solar energy companies being active in Africa for some time. We are pleased, they decided to go with us.”

“The money from KGAL will be used for continued expansion. Our goal is to have one million users within eight years and be one of the leading off-grid solar energy companies in Africa. So far, focus has been on Cameroon with the intention to expand into a couple of more countries, preferably in West Africa.

Managing Director of SunErgy, Stein Skjorshammer informs new solar power stations will be opened this year, giving electricity to more people. In addition, the company will deliver solar power electricity to mobile companies for operating their mobile towers, army bases, minor private and public enterprises, schools and health centers. “We opened the first solar power station in the village of Bokosso in August 2015. It has operated flawlessly and nonstop since. The African off-grid market is enormous and we are all set to go. We have built the infrastructure, made all agreements necessary and tested the equipment in the first four villages, which have been up and running for some time. Everything works as planned. We are, together with our colleagues in our daughter company SunErgy Cameroon, not only ready to roll out; we are going full steam ahead”

The law firm SANDS has assisted SunErgy with the subscription.