The investment is set to fuel Rensource’s expansion plans and strengthen its position as a key player in the country’s solar energy market
The agreement also marks a major milestone in Nigeria’s transition towards sustainable and reliable energy sources. Rensource, known for its innovative approach to energy provision, has been at the forefront of Nigeria’s renewable energy sector. The company specializes in building and operating solar-powered micro-utilities and providing clean, affordable, and reliable electricity to underserved commercial and industrial customers.
The recent deal with Afrigreen Debt Impact Fund SLP signifies a significant boost for Rensource, as it will provide the necessary capital to fund the company’s expansion plans.
The $15 million investment will be utilized to scale up Rensource’s operations, improve its technological infrastructure, and strengthen its market presence across Nigeria. Afrigreen Debt Impact Fund SLP is a specialized investment vehicle focused on clean energy and sustainable development in Africa. The fund’s decision to partner with Rensource highlights the growing investor interest in the renewable energy sector in Africa.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
The African Development Bank (AfDB) has announced a historic $11.1 billion in new investments for the 2024–2025 period, marking the highest annual commitment in its history.
Kenyan digital health startup MYDAWA has secured a $9.6 million investment from Denmark’s Investment Fund for Developing Countries (IFU) to expand its pharmacy network and digital healthcare services across East Africa.
Swedfund, Sweden’s development finance institution, has committed $10 million to Novastar Ventures’ Africa People + Planet Fund III (NVIII), a venture capital fund targeting early-stage businesses in Africa.
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