Subscribe today and receive an extra account for free.
Subscribe
Source: d.light
December 18 (Renewables Now) - Off-grid solar company d.light said today it has raised USD 41 million (EUR 36m) in equity funding from a group of investors led by Africa-focused investment advisory firm Inspired Evolution.
D.light will use the fresh funds to grow its solar and Pay-Go consumer finance business in Africa, including expanding its product line and entering new markets. The company offers portable solar lanterns and solar home systems capable of powering multiple lights, mobile phones and small appliances.
The other participants in the investment consortium include the Dutch Development Bank FMO and government-sponsored investment funds Swedfund and Norfund. D.light noted that some existing investors have used the latest funding round to achieve an exit.
Including the latest financing, d.light has raised over USD 100 million in the past two years, it noted.
(USD 1.0 = EUR 0.879)
Albania's Q1 power output falls
May 24, 2019 15:59 CEST
Infigen says buying gas plant to further expand in renewables
May 24, 2019 15:26 CEST
Montenegro's econ min says concessions for small HPPs not on govt agenda
May 24, 2019 15:13 CEST
Singapore's USP to sell biofuel business for USD 4m
May 24, 2019 14:57 CEST
Japanese geothermal plant of 46 MW starts operations
May 24, 2019 14:24 CEST
New CIP fund gets USD 700m for renewables in Asia, Lat Am
May 15, 2019 11:35 CEST
