Off Grid Electric – a leading rooftop solar provider in Africa, where it’s known by its consumer brand Zola – today announced major growth initiatives for the company, including expansion and funding. Off Grid Electric and EDF, a global leader in low-carbon energies, will expand their partnership in West Africa by offering off-grid solar solutions to households in Ghana. To support continued expansion and new product development, Off Grid Electric has secured the largest venture equity investment into Africa – $55 million in Series D funding led by Helios, acting on behalf of funds it advises, with support from GE Ventures and existing investors.
More than 600 million people in sub-Saharan Africa live without electricity, and those who do have electricity are often plagued by an unreliable grid. Meanwhile, solar power is Africa’s most abundant but least utilized source of energy generation. Off Grid Electric, through its consumer brand Zola, combines Silicon Valley technology with local expertise to offer African homes and businesses rooftop solar as a solution to an unreliable or nonexistent grid. Off Grid Electric currently provides power to more than 150,000 homes and businesses across Tanzania, Rwanda, Côte d’Ivoire, and Ghana.
This news was Culled from Africa Business central
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