DBL Partners, an early backer of SolarCity Corp., has led a $25 million investment in Off Grid Electric, a company operating a similar solar-leasing business in Africa.
Arusha, Tanzania-based Off Grid installs solar panels, combined with lighting systems, at business and residential properties and charges customers over time, using a leasing model. It is installing at a rate of more than 10,000 projects a month. By comparison, at the time Sunrun Inc . was going public earlier this year it had a cumulative install base of 79,000 projects, accumulated since 2007. Sunrun’s projects are likely larger than Off Grid Electric’s.…
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