September 10 (Solar) – Japan’s Mitsubishi Corp (TYO:8058) said on Monday it will support the development of distributed generation (DG) renewable energy projects in Africa by investing in NEoT Offgrid Africa (NOA).
Mitsubishi’s partner in the initiative will be French utility Electricite de France (EPA:EDF), according to the announcement.
The NOA platform is a joint venture that promotes the installation of DG renewable energy systems in areas that are not grid-connected. The entity will initially focus on providing power solutions such as solar photovoltaic (PV) systems and batteries, and also household appliances that African households without electricity access could not previously use. Presently, the number of people living in areas without transmission and distribution networks in Africa exceeds 600 million.
The Japanese group said the investment will help it expand its DG business in Sub-Saharan Africa, starting with Cote d'Ivoire. It also sees this as an opportunity to grow into power supply services in Africa, targeting mobile tower operators and other business customers.
EDF and Mitsubishi are collaborating in another joint venture project called NEoT Green Mobility, focused on turnkey electric mobility solutions in European urban areas.