A leading solar distributor in West Africa, Oolu, has closed a $8.5 million Series B investment round led by independent renewable energy developer, RP Global.
A statement by the company Tuesday said additional participating investors included Persistent Energy Capital, Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures. Oolu’s mission is to provide affordable energy access to rural and peri-urban customers in West Africa.
Since its inception in 2015, the company said it has sold over 60,000 solar home systems to customers in the region. In addition to a large distribution and service network, Oolu employs over 250 full-time employees and is run by a Dakar-based management team of whom 50 per cent are women…
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