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

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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

June 24, 2025
Imbalances in investment mean that action will be needed if the solar industry is to help meet the world’s climate change targets.
June 19, 2025
Boralex is driving organic growth across Canada, the US, France, and the UK, fueled by a project pipeline totalling 8GW.
June 17, 2025
The World Bank has approved a loan of around US$600 million to support the development of 540MW of new solar and wind capacity in Indonesia.
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).
June 3, 2025
US independent power producer (IPP) Silicon Ranch has invested US$3 million in autonomous robotics company Swap Robotics.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico