Off Grid Electric raises USD 18m from new investors

SeeNews Renewables
By Ivan Shumkov
August 2, 2016

August 2 (See­News) — Tanzania-​​headquartered solar installer Off Grid Elec­tric said on Mon­day it has closed an USD-​​18-​​million (EUR 16m) financing.

The com­pany has raised USD 10 mil­lion from Africa-​​focused pri­vate invest­ment firm Helios Invest­ment Part­ners and USD 8 mil­lion of debt financ­ing from Zurich-​​based asset man­ager Respon­s­Abil­ity Invest­ments AG.

Off Grid Elec­tric devel­ops and mar­kets dis­trib­uted solar home sys­tems and bat­ter­ies, with a focus on the African mar­kets. Its prod­ucts allow cus­tomers to power LED lights, mobile phone charg­ers and other small electronics.

To read the full arti­cle, visit See­News Renew­ables.