Off Grid Electric using US$55 million financing from EDF, GE and others for Ghana expansion

January 22, 2018
Facebook
Twitter
LinkedIn
Reddit
Email
Off Grid Electric system in Tanzania. Image: Off Grid Electric.

Africa’s largest private equity firm has led a round of financing for Off Grid Electric to fuel the microgrid provider’s expansion in the continent, with investors including an arm of General Electric (GE).

Off Grid Electric announced on Friday that GE Ventures, venture capital subsidiary to GE, is among those to have contributed to a Series D funding round that has raised US$55 million. The financing round was led by Helios Investment Partners, which is focused exclusively on investments in Africa and was founded by two Africans, Tope Lawani and Babatunde Soyoye, in 2004. Off-Grid Electric said Helios is acting on “behalf of the funds it advises”.   

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Top Lawani, still a managing partner at Helios, said the company believed Off Grid Electric’s “innovative platform” is going to “play an important role in Africa’s electricity future, and have a positive impact on the lives of Africans.”

GE Ventures was joined in the round by existing investors in Silicon Valley-headquartered Off Grid Electric.

To read the full version of this story, visit Energy-Storage.News.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
Off-grid solar company Sun King has revealed plans to set up manufacturing operations in Kenya and Nigeria.
October 14, 2025
Apple will support 650MW of projects as part of a major expansion of its renewable energy investments in Europe, aimed at reducing its carbon footprint.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany