Easy Solar lands equity/debt mix from Acumen and others

Easy Solar has landed a mix of equity and debt capital from three investors which it will use to scale its off-grid solar business in Sierra Leone and Liberia. The investment is made up of $3 million of equity (for Easy Solar’s Series A round) which is being made by Acumen and FMO and an additional $2 million debt facility provided by Trine. No additional terms of the deal were provided.

The company was launched in 2016, since when it has served 400,000 people and created more than 500 clean energy-related jobs. Customers can buy products ranging from solar lanterns for lighting and mobile charging, to pico solar home systems with appliances like TVs and fans, to kW-sized systems designed for residential, commercial, and industrial use. Easy Solar’s management is focused on scaling up the company’s commercial and industrial (C&I)operations in response to the growing demand for energy in offices, farms, factories, schools, and hospitals across West Africa.

<

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.