Making its first investment in the solar home systems sector, InfraCo Africa has agreed to a convertible loan financing deal with Bboxx, a leading manufacturer, distributor, and financer of the off-grid systems in developing markets, including Africa. Bboxx will use the $15.5 million financing package to accelerate the growth of its business in current and new markets in sub-Saharan Africa. The terms of the financing have not been disclosed.
“Bboxx is clearly a well-established and exciting player in the clean energy sector, especially in the solar home systems’ space,” said Claire Jarratt, InfraCos’ Chief Investment and Risk Officer. “Today’s investment by InfraCo Africa will further support Bboxx in its continued growth, supplying clean energy solutions for hundreds of thousands of customers across sub-Saharan Africa in the coming years.”
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