Off-grid solar funding concentrated in just three companies
With a previous 50-50 split between equity and debt investment funding for the off-grid market shifting to 84% debt, and commentators stating most of this year’s backing was agreed before the onset of Covid-19, fears are mounting about the prospects for the sector.
Morning Brief: Mysterious Rashba effect detected in bulk perovskites, Zanzibar’s ‘solar mammas’
Also in the brief: SEIA disappointed by USTR’s decision to remove Section 201 tariff exclusions for bifacial solar modules, plus VC investment in energy and grid startups.
Covid-19 is heightening the stakes for off-grid solar in Africa
“Without energy, we can’t fight this,” said Bill Lenihan, CEO of Zola Electric, a company that develops solar and storage systems in Africa.
Off Grid Electric secures $7.5 million in debt financing
The California-based provider of off-grid solar power in Africa rounded off an excellent 2016 for the company with a further $7.5 million in debt financing and a partnership with Rwanda’s national utility company, off the back of further expansion plans across Africa.
