Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTOctober 21 (Renewables Now) - IDB Invest, the private sector arm of the Inter-American Development Bank Group, said it has made a USD-5-million (EUR 4.2m) equity investment in Guatemala-based prepaid solar services provider Kingo Energy to support its business model and growth plans.
Kingo Energy serves customers mainly in Guatemala and Colombia, providing pay-as-you-go solar power solutions to the poorest communities living in remote and off-grid rural areas. The company is looking to expand to other countries in Latin America.
IDB Invest said the funding would enable Kingo Energy to increase the number of installed solar products and launch new ones. Besides providing the equity investment, IDB will help the company set up an innovation laboratory and implement corporate governance principles and gender policies.
Kingo Energy has so far raised multi-million dollar amounts from international banks and funds. In 2018, actor and environmental activist Leonardo DiCaprio stepped in as investor and advisor to the company for an undisclosed sum.
(USD 1.0 = EUR 0.844)
Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTCorio, Jera ready Formosa 3 for Taiwan offshore wind auction
Jul 01, 2022 16:12 CESTCost of new renewables climb, but gap to fossil power widens
Jul 01, 2022 16:07 CESTGermany opens public consultation on offshore wind development plan
Jul 01, 2022 15:48 CESTEast Energy, utility to use green H2 to decarbonise district heating in Brandenburg
Jul 01, 2022 15:43 CESTBiden pledges to take action as court limits EPA's authority
Jul 01, 2022 15:38 CEST