PRESS RELEASE: Easy Solar raises 7 million dollars to pursue its expansion in West Africa’s frontier markets | GOGLA
Summary
Easy Solar, a leading last-mile energy access and distribution company in West Africa, is pleased to announce it has raised USD 7 million in debt and equity from Acumen, Cygnum Capital and Triodos Investment Management.Easy Solar operates in some of the continents hardest to reach markets, with a vision of making sustainable energy solutions and life improving products affordable and accessible to its customers, both households and businesses. Despite a difficult context of rising fuel and food prices, compounded by the persistent currency depreciation, the company was able to partner with investors to continue building on its core strengths and expertise, having recently reached a milestone of connecting over a million lives across the region to energy and beyond.Alexandre Tourre, the CEO of Easy Solar, explained what this means for the group: Were absolutely thrilled to have secured an investment from Triodos Investment Management. Cygnum Capital and Acumen are historical investors who have supported our vision for many years by making impactful finance available where it is most needed and were delighted to expand our work with them. Together, we are at the forefront of building a clean energy future for West Africa.In partnership with TCX, Cygnum Capitals facility will expand Easy Solars access to local currency financing in Sierra Leone, while Acumen will support the company with an innovative affordable inventory financing instrument tailor designed for hard to reach markets. Off-grid solar solutions have proven to be more than just a way to provide clean, affordable, and reliable electricity to underserved communities.
Funding
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