Off Grid Electric connects to GE for $55m

Jan 24, 2018 • Robert Lavine

GE Ventures has participated in a series D round closed by African solar energy provider Off Grid Electric as it moves into Ghana.

Tanzania-based solar power supplier Off Grid Electric has secured $55m in a series D round featuring power and industrial technology manufacturer General Electric’s corporate venturing subsidiary, GE Ventures.

The round was led by Helion Venture Partners, a branch of investment firm Helion Investment Partners, and increased the company’s overall equity funding to $123m, alongside $60m in debt financing.

Off Grid Electric provides rooftop solar systems through a leasing model to homes and businesses in Tanzania, Rwanda, Côte d’Ivoire and now…

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