PEG Africa raises $25 million to cement its position as market leader in West Africa

West-Africa based solar company PEGAfrica just raised $25M, taking its funding total to US$50 million with investors such as CDC group, SunFunder, ResponsAbility, Blue Haven Initiative, Energy Access Ventures, Acumen...

PEG Africa, société leader en Afrique de l'Ouest pour la distribution de panneaux solaires dans les communautés rurales et péri-urbaines, vient de lever 25 millions de dollars, portant son financement total à $50 millions (et incluant des investisseurs tels que le groupe CDC, SunFunder, responsAbility Investments AG, Blue Haven Initiative, Energy Access Ventures, Acumen..).

PEG has been funded and supported by I&P since 2015, particularly to finance and support its development in Ghana and the sub-region.

"Our solar solutions deliver better, cleaner and cheaper energy to our customers, and we have been successful at expanding rapidly and profitably while improving the lives of some of the poorest and most vulnerable in the countries we operate in. More than 50 per cent of PEG’s customers earn less than US$3 per day, while 89 per cent do not have access to the national electricity grid"

Hugh Whalan, PEG CEO

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The press release on PEG's website

Presentation of the company on I&P's website