Solar energy start-up, Oolu Solar, raised $ 8.5 million in Series B capital. The transaction was led by independent renewable energy developer RP Global.
Other additional investors also participated in the funding round, including Persistent Energy Capital (PEC), Shell’s impact investor, All On, Gaia Impact Fund and DPI Energy Ventures.
The startup specializes in providing affordable energy to rural and peri-urban areas in West Africa. With this investment, Oolu plans to expand its commodity offering to meet the needs of its customers and further develop its operations. The company operates in Nigeria, Senegal, Mali, Burkina Faso and Niger.
The operation is one of the largest fundraisers ever carried out in French-speaking Africa.
Trending
- Amok in Bamako: the “unnatural” alliance FLA-JNIM shakes Mali
- Togo: Inauguration of the new University of Kara
- Kenya increases its stake in African Finance Corporation by an additional $25 million
- Niger obtains 29.582 billion CFA francs from UMOA financial market investors
- Senegal: Senelec becomes sole shareholder of West African Energy (WAE)
- Mauritania: Montage Gold secures over 2,100 km² of gold mining permits
- Call for support for the candidacy of Mrs. Coumba Bâ to the Francophonie
- Senegal, Yakaar-Teranga gas project: key dates of a divorce
Senegal: the start-up Oolu Solar raises 8.5 million dollars
Amadjiguéne Ndoye
Economic journalist with a Master’s degree in Communication and Journalism from the Higher Institute of Information and Communication Sciences in Dakar (ISSIC). Avid reader and music enthusiast. Feminist at heart and passionate about fashion.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com