TotalEnergies led the equity portion of a round bringing the off-grid energy provider’s total debt and equity financing to over $270m.

Tanzania-based distributed electricity provider Zola Electric raised $90m in an equity and debt round led by oil and gas producer TotalEnergies’ corporate venturing arm, TotalEnergies Ventures, TechCrunch reported yesterday, citing a company statement.

The $45m equity portion was filled out by DBL Partners, Helios Investment Partners, Vulcan Capital, Electron Capital Partners and Lyndon and Peter Rive, co-founders of solar power system installer SolarCity.

Netherlands-based development bank FMO and Sunfunder provided the debt portion. The round brings the company’s total debt…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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