On May 1, 2018, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) signed an agreement relating to acquiring a stake in M-KOPA Solar ("M-KOPA", CEO and Director: Jesse Moore), a developer of a Solar Home Systems (SHS) business in Africa.
M-KOPA installs solar panels on the rooftops of residential homes and small businesses, creating SHS capable of operating lights, mobile phone chargers, and household appliances such as radios and TVs. M-KOPA is a leader in the SHS business in Kenya, Uganda and other markets, with cumulative sales of over 600,000 units.
Africa is experiencing rapid economic growth, which has led to an improvement in living standards and a vast increase in demand for electricity due to changing lifestyles. However, over 600 million people are living in un-electrified areas of Sub-Saharan Africa due to delays in power transmission and distribution network, and are still using kerosene for lighting and cooking. By using renewable energy, M-KOPA is contributing to the reduction of impact on the environment by reducing the use of kerosene, a fossil fuel.
By utilizing our knowledge and network to accelerate expansion and strengthen M-KOPA's services, Mitsui & Co. aims to support the comfort and convenience of people in Africa.
|Company name||M-KOPA Solar|
|Date of Establishment||2011|
|Major Business Areas||Consumer products, power supply service business with finance|