Energy Access Ventures (EAV), which closed its first fund having raised €75 million in early 2018, has added another investment to its growing portfolio. The business is SolarX, a renewable energy company based in Mali which sells clean and affordable energy solutions to commercial and industrial clients in West Africa. The terms for this, the company’s Series A round, have not been disclosed.
“Despite the market demand,” noted SolarX’s CEO Karim Ghammache, “attracting financial partners had been a challenge before engaging with EAV. The EAV team has been instrumental in supporting us to set up the company, define the right business model, put together operational structures, and develop connections with relevant partners prior to their investment. We are eager to lead the way in growing the renewable energy sector in West Africa.’’
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