ENGIE and Finatech Group create an energy services joint venture
ENGIE and Finatech Group, a subsidiary of the FinanceCom group, finalised their creation of a joint venture dedicated to energy services on November 30, 2017.
Named ENGIE Finatech Services SA, the new entity will mainly be involved in industrial and tertiary electrical installation work, public lighting and telecommunications networks and infrastructure.
Amine Homman, Regional Manager of ENGIE North Africa, said: “The creation of ENGIE Finatech Services is the realisation of a partnership launched several years ago that encapsulates the will of both groups to offer the energy services market a competitive offering fit for the energy transition”.
Mr Abdou Bensouda, Chief Executive Officer of Finatech Group, added: “By combining ENGIE’s global expertise with Finatech Group’s know-how, we aim to offer innovative and competitive solutions to our customers in the domains of electrical infrastructure, smart buildings and smart cities”.
Jointly controlled by both parties, ENGIE Finatech Services is a limited company under Moroccan law. It is 49% owned by ENGIE and 51% owned by Finatech Group.
By setting up ENGIE Finatech Services, the two leading players in their fields of expertise will leverage their complementarity and synergies to develop and enrich their service offering, not only in Morocco, but also in other African markets.
This way, ENGIE will shore up the deployment of its strategy on the African continent.
As a major player in renewable energies, energy efficiency and smart cities, ENGIE is active in Morocco alongside leading partners and contractors, with a strong, acknowledged presence in facility management, energy services and power generation. ENGIE is also developing new projects there based on wind and solar energy and natural gas.
ENGIE has been present in Africa for 50 years, where it provides electricity generation, natural gas and energy services activities to territories, companies and households. ENGIE has electricity capacity totalling almost 3,000 MW in Africa, either already operational or under construction. ENGIE is also developing decentralised power generation for isolated businesses and rural villages.
For more information visit www.engie-africa.com
ENGIE is committed to taking on the major challenges of the energy revolution and moving towards a more carbon-free, decentralised, digitised world. The Group aims to become the leader of this new energy world by focusing on three key activities for the future: low-carbon generation, particularly from natural gas and renewable energies, energy infrastructure and efficient solutions adapted to all its customers (individuals, businesses, territories, etc.). Customer satisfaction, innovation and digital technology are at the core of ENGIE’s development.
ENGIE is active in just under 70 countries, employs 150,000 people worldwide and generated revenues totalling €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
About Finatech Group
A major player in the energy, digital information and communication sectors, Finatech Group, a subsidiary of the FinanceCom group, is a top integrator that offers its private and public-sector customers multi-technical solutions and infrastructure, covering every stage from design to implementation, maintenance and operation. Its mission is to provide specific answers to the infrastructure requirements of today and tomorrow, while rising to the current challenges of sustainability and connectivity. The expertise accumulated by Finatech over more than 20 years in the technological domains it covers – energy, telecommunications, systems and technologies – and its skills in engineering, installation, system integration and services make the Group a privileged partner for implementing major infrastructure projects and complex systems.