Engie acquires South African energy companies
French utility Engie is set to acquire affiliated South African energy services firms Ampair and Thermaire Investments, as part of a strategy to expand its presence in the country. The companies' activities range from power plants, commercial buildings, shopping malls and data centres. The purchase will see the two firms become one of South Africa's largest heating, ventilation and air conditioning contractors, as well as part of Engie's platform offering regional energy services to the domestic, commercial and industrial sectors.

Engie to develop South Africa’s energy services

Engie has signed agreements with two South African energy services companies, Thermaire Investments Ltd and Ampair Ltd, to acquire 100 per cent of their respective shares

Engie develops a number of solar projects in South Africa. (Image source: Kimco Realty/Flickr)

The company said that completion of the transaction is conditional on approvals of the relevant regulatory bodies.

Engie further added that with Thermaire and Ampair, it aims to develop a regional platform to offer energy services to the public, industrial and commercial building sectors.

Jointly, the acquired companies will form one of the largest South African HVAC contractors to export its skills cross-border and into the greater Southern African region.

Mohamed Hoosen, CEO of Engie Southern Africa, said that as a global energy company and expert operator in renewable and energy storage, lighting, heating and cooling systems, as well as energy management and controls, Engie is embarking on an acquisition strategy to grow its presence in the African market.

Commenting on the partnership, JP Hargovan, CEO of Thermaire Investments, added, “As one of the oldest established HVAC businesses in Southern Africa, we are thrilled at the prospect of developing and growing our business in line with the greater Engie strategy.”

Thermaire Investments and Ampair are affiliated companies which provide client supply, installation and maintenance services within the HVAC industry. Their activities range from power plants, commercial buildings, shopping malls and data centres. Together, both companies employ more than 500 people across South Africa, Botswana and Mozambique.

Engie’s activities in South Africa include commissioning of the 670MW Avon Peaking Power, 335MW Dedisa Peaking Power, 94MW Aurora Wind Power and the combined 21MW Aurora-Rietvlei Solar Power and Vredendal Solar Power Park (Photovoltaics). The company also involves in an ongoing construction of the 100MW Kathu Solar Park in the Northern Cape of South Africa.