Actis, a prominent global investor in sustainable infrastructure, has reached an agreement to sell its entire stake in BTE Renewables to Engie and Meridiam. Upon completion of the transaction, Engie will acquire BTE’s South African portfolio and team, while Meridiam will take over the Kenyan portfolio and team.
Actis established BTE Renewables as a pan-African renewable energy platform in 2017, starting with the acquisition of the Kipeto wind project in Kenya. In 2019, Actis expanded the platform by acquiring BioTherm Energy, a company focused on South Africa, and rebranded it as BTE Renewables. BTE’s primary focus has been on developing utility-scale wind and solar projects across the pan-African region. Currently, the platform comprises six operational projects with a combined generating capacity of approximately 500 MW, including five projects in South Africa and one in Kenya. Despite the challenges posed by the COVID-19 pandemic, BTE successfully completed five projects within budget. Additionally, BTE has an extensive pipeline of projects under development, exceeding 5 GW across the region.
The sale of BTE Renewables aligns with Actis’ strategy of investing in and advancing the renewable power sector worldwide. As the second-largest diversified regional renewable independent power producer in Africa, BTE is well-positioned for growth due to its strong team, existing footprint, and market expertise.
Under Actis’ ownership, BTE has become a sustainability leader in the industry, emphasizing inclusion and diversity initiatives, community development, and biodiversity conservation. The company has made significant investments in community education, with over $3 million dedicated to initiatives spanning from early childhood development to livelihood enhancement. BTE has also been actively involved in various partnerships and initiatives, such as the Initiative for Social Performance in Renewable Energy (INSPIRE), which focuses on skills development in South Africa’s renewable energy sector. Moreover, BTE’s biodiversity conservation efforts, supported by The Nature Conservancy, have earned recognition and accolades.
Overall, BTE Renewables has emerged as a highly valuable player in Africa’s renewable energy landscape, with a strong commitment to sustainability and a focus on driving the continent’s transition towards a more equitable and environmentally responsible future.