Renewable energy provider SolarX completes Series A round with funding from EAV

SolarX secures series A financing from EAV

MALI – SolarX, a West African renewable energy equipment provider, has raised additional funding from Energy Access Ventures (EAV), an early-stage fund that invests in decentralized energy companies across Sub-Saharan Africa. The company has also announced that it has completed its Series A round with this tranche, hinting at a staggered close. SolarX Africa said it will utilize this new equity and quasi-equity funding to finance a pipeline of projects for commercial and industrial clients in Mali and Burkina Faso. The firm develops, finances, and offers operations and maintenance services…

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Energy Access Ventures makes follow-on investment in Solarise Africa for clean energy

AFRICA – Energy Access Ventures (EAV) has announced a follow-on investment in Solarise Africa, a pan-African clean energy and energy efficiency leasing company. The round was led by French development finance institution, Proparco, which invested the US$4.74 million in quasi equity through the AFD Group EU-funded African Renewable Energy Scale-Up facility, alongside existing investors, EAV and EDFI ElectriFI, an EU-funded impact investment facility. “We are grateful for the support we have received by EAV as our anchor investor and by the confidence our existing investors EAV and Electrifi have shown…

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SolarX secures series A financing from EAV to support West Africa expansion

SolarX secures series A financing from EAV

MALI – Mali based solar energy provider; SolarX has secured funding from a Class A fund raising organised by Energy Access Ventures (EAV) to support its ambitious plan to expand into other markets in the West African region. SolarX supplies grid-connected solar photovoltaic systems that enable its customers to save on their electricity bills. The Bamako-based company also provides solar pumping systems that are very useful for drinking water supply (DWS) in rural areas. Africa Energy portal reports that the investment is expected to enable SolarX to expand its services…

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