KGAL completes purchase of minority stakes in SunErgy
Private Equity Fund KGAL New Frontiers, a unit of German KGAL, has completed the purchase of a 22% stake in SunErgy.
SunErgy is a Norwegian company specialized in off-grid power supply to emerging countries. It is aiming for expansion to Cameroon where the company sees an opportunity to grow in the next eight years, with the possibility of making the country a hub. The company is set to build 8 solar plants this year with the aim of reaching 20,000 people.
The transaction details were not disclosed.
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