Oolu, a Senegal-based start-up company and PV corporation in Africa, has successfully raised US$3.2 million in equity investments. This Series A fundraising follows its seed round in 2015 and will support the company’s growth and strategy as it looks to expand its customer base in West Africa.
PV company Mobisol announced that it has signed off on an off-balance sheet debt deal with two energy funds managed by responsAbility — a leading asset manager in the field of development investments.
Mitsui & Co., a major Japanese industrial conglomerate, has formed a Joint Venture (JV) with leading India mini-grid developer OMC Power to expand their mini-grid business into Africa. The new JV is part of a ¥1 billion (US$9 million) equity investment by Mitsui in OMC Power.
Zimbabwe state-owned power company Zimbabwe Power Company (ZPC) has applied to develop three solar PV plants with the Zimbabwe Energy Regulatory Authority (ZERA).
A pay-to-own solar system will be developed in Zambia by MTN, Africa’s largest telecoms company, in partnership with Fenix International, who is extending ReadyPay Power.
Eritrea will soon join the global solar boom with a €5.7million fund bringing clean power to two rural villages that currently rely on small diesel generators.
Redavia has commissioned an eight-container solar farm at Shanta Gold’s New Luika mine in the Chunya district of Tanzania, which it claims to be the largest in the country.
