The EDF Group and CONERGIES-GROUP have set up a partnership to develop energy efficiency solutions in West Africa

On 23 January 2019, EDF and CONERGIES-GROUP announced the partnership to jointly develop and deploy groundbreaking energy efficiency solutions in refrigeration and air conditioning for industrial and tertiary customers
in West Africa. Further to this partnership, EDF has acquired a 49% stake* in CONERGIES-GROUP.

This new partnership follows the investment from Investisseurs & Partenaires (I&P), through its fund I&P Afrique Entrepreneurs 1 (IPAE 1). In line with its initial commitment, I&P exited the company after 6 years, during which they successfully supported the company’s growth, mainly by strengthening its structure, by funding its start-up activities in Côte d’Ivoire and by contributing to define a new marketing strategy for the Group.

The partnership between EDF and CONERGIES-GROUP is based on the complementary nature of positioning and competences of the two groups. CONERGIES-GROUP is one of the leaders of integrated energy efficiency solutions in West Africa, with more than 130 projects implemented in Côte d'Ivoire, Mali, Senegal, Burkina Faso, Benin, Guinea and Guinea-Bissau. The Group designs and implements tailor-made solutions in environmental engineering, refrigeration and solar energy. CONERGIES-GROUP operates under RICA Services in Mali and ARIC in Côte d'Ivoire.

EDF will provide CONERGIES-GROUP with its know-how in smart technologies so that energy consumption can be managed and monitored. EDF will mainly draw on the skills and experience of its subsidiary, Dalkia Froid Solutions,
specialised in design, installation and maintenance of tailor-made refrigeration solutions (integrating solar power) for industrial, large and medium-sized retailing and tertiary customers. On the African continent, the company has already developed and deployed refrigeration systems for the dairy industry, powered by solar energy.

Operating in West Africa on the entire energy value chain (renewable energy electricity generation, Off -Grid energy access kits, grid development and engineering services), the EDF Group will also provide its knowledge of the markets, its commercial network and its capacity for innovation with its R&D arm.

Thanks to this cooperation, the CONERGIES-GROUP joint company now aims to triple its operations in West Africa
and is planning to progressively roll out its operations to other African markets

Valerie Levkov, the EDF Director in charge of African, Middle Eastern and Eastern Mediterranean Countries stated: Cooperation with CONERGIES-GROUP has confirmed speeding up of development of EDF activities in Africa. The energy efficiency services combined with carbon-free generation constitute a significant element of response to growing energy demand in African countries and reduction in CO2 emissions. It is also a factor for competitive development of local businesses based on better energy budget control. We are proud to meet these new challenges with a trustworthy partner, who shares our partnership strategy

Mamadou Sanankoua, CONERGIES-GROUP CEO stated: Fruitful cooperation with the IPAE investment fund has enabled us to structure and develop our activities in Côte d’Ivoire and Mali in a significant manner over the past six
years. This strategic partnership with EDF and its specialised subsidiary DALKIA FROID SOLUTIONS, will enable us to increase the portfolio of high energy efficiency solutions that can be offered to our customers in West and Central Africa. As an African company, we are proud to team up with a world class group like EDF to be able to provide groundbreaking energy efficient solutions and fulfilling the specific requirements and needs of the markets that we operate on.

Sébastien Boyé, Chief Investment Officer at I&P stated: After a period of 6 years of an outstanding human and business adventure, during which the IPAE fund has contributed to the transformation of CONERGIES-GROUP from a Malian company into one of the -regional leaders of the sector, we are proud to sell our shares to EDF for this new stage of corporate growth. We are convinced of the strategic and industrial value of this new partnership and of its alignment in terms of values and environment and social oversight, which have been pivotal to our investment in CONERGIES.

The remaining 51% of the shares are owned by the Sanankoua family, historical shareholders.