Nigeria-focused energy firm closes $8.5 million investment round

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…
 
More details through:
https://www.premiumtimesng.com/business/business-news/431463-nigeria-focused-energy-firm-closes-8-5-million-investment-round.html