Solar kits firm M-Kopa seeks US$3m funding from FMO to finance growth

KENYA – M-Kopa, the Kenyan platform which provides digital financial services and solar systems and devices, is negotiating a US$3 million expansion financing with the Dutch Development Finance Bank (FMO). “The proposed facility increase of US$3 million will add up to the existing receivables facility with M-Kopa Kenya. This will allow the company to continue its growth trajectory and provide more products to its customers,” FMO said in a note. Half the amount will come from Access to Energy Fund, which is an FMO-managed vehicle dedicated to financing energy projects in developing…

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Cleantech company Havenhill Synergy Limited secures US$4.6m funding to build solar mini-grids

NIGERIA – Havenhill Synergy Limited, a Nigerian clean-tech company that deploys renewable energy solutions, has just secured US$4.6 million from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NDIF) to build 22 solar mini-grids in rural Nigeria. The financing was obtained through a fund raising in which Chapel Hill Denham Nigeria Infrastructure Debt Fund (NDIF) is the sole participant. The fund is providing US$4.6 million in local currency (the naira) to the solar mini-grid supplier Havenhill Synergy. Part of the funds allocated by the NDIF were injected by the African Development…

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Solar company Daystar Power secures US$38m Series B investment led by IFU to grow its operation

NIGERIA – Daystar Power, a provider of hybrid solar power solutions to businesses in West Africa, has announced a Series B investment of US$38 million led by the Investment Fund for Developing Countries (IFU), the Danish development finance institution (DFI). With the fundraise, Daystar Power will grow its operations in its key markets of Nigeria and Ghana, while deepening its presence in other regional countries such as Côte d’Ivoire, Senegal and Togo. Daystar Power is on track to expand its installed capacity to over 100 megawatts, meeting demand from its…

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