Rensource signs debt finance agreement for C&I power projects
Summary
Its projects are located across East and West Africa.Rensources customers range across the agriculture, healthcare, education, real estate and manufacturing sectors in Africa. Rensource will use the financing to install on- and off-grid solar power plants to help their clients reduce their energy bills and diesel dependency.Have you read?Nigeria: 5MW Solar PPA for Abuja university campusThe Lagos-based C&I solar company will be able to provide clean solar solutions to commercial and industrial clients in key markets across Africa, significantly reducing carbon footprints.Rensource CEO Prince Ojeabulu explained the company has since inception waxed strong, no doubt due to its strategic partnerships, Afrigreen being one of them.We are glad to have closed a $15 million fundraise with Afrigreen, which will contribute greatly to the development of the commercial and industrial sector in Africa and enable us to achieve our goal of a total installed capacity of 150MWp by 2025.Alexandre Gilles, Managing Partner of Echosys Invest, said they are thrilled to close this transaction with Rensource, which marks Afrigreens first investment since the closing of the fund. It is also the first step of a promising collaboration between the two companies, as Afrigreen will be able to accompany Rensources pipeline development in a buoyant C&I market in Nigeria.Have you read?Nigerian farm becomes countrys largest sun-powered poultry plantAfricas commercial and industrial companies are massively turning to solar PV to reduce their dependency on diesel generators, reducing energy bills, fuel consumption and CO2 emissions. The companys solutions offer affordable and reliable clean energy to clients, making it a superior choice for MSMEs looking to reduce their cost of electricity. It is backed by investors including Persistent Energy, Omidyar Network, EDP Holding, Proparco, Inspired Evolution, Amaya capital, Investisseurs & Partenaires.