Led · Series B · Jul 2023

Nuru builds solar-plus-battery utility mini-grids designed to provide 24/7 reliable renewable power to communities in eastern DRC. The company is deploying metrogrid-style systems and already operates mini-grids in four cities, with planned new sites in Goma, Kindu and Bunia. The three new mini-grids will total 13.7 megawatts of generation capacity and are intended to expand access where national electrification is limited. Nuru’s stated social goal is to provide 24-hour electricity to five million people in the DRC, though management says achieving that target will require substantially more capital. The company is pursuing additional project finance alongside its equity raise to fund near-term construction and operations. Nuru positions its technology and deployments as a way to improve climate resilience and bypass fossil-fuel generation in low-electrification regions. Founded in 2015 as Kivu Green Energy, Nuru develops and operates urban hybrid solar mini-grids in eastern DRC, serving commercial, industrial, and household customers. The company runs a 1.35MW mini-grid in Goma and has commissioned a 1.33MW hybrid solar power plant, among the largest off-grid facilities in Sub-Saharan Africa. Nuru positions its systems as more reliable, cleaner, and comparatively more affordable than diesel-generator solutions. It has secured a EUR1 million (US$1.2 million) cash injection from Proparco to scale into additional provinces. Nuru plans to deploy its off-grid solutions across North Kivu, Maniema, Ituri, Haute Uélé, and Kasaï, aiming to electrify five million people by 2024. Proparco, the private-sector financing arm of the French Development Agency (AFD) group, provided the funding as part of its Digital Africa initiative. Kivu Green Energy develops and operates solar PV minigrids paired with battery storage to provide stable, cheaper electricity in under‑electrified urban areas. The company will deploy its first minigrid in Goma with an initial capacity of 1.3 MW of solar and 2 MWh of battery storage. The Goma project is expected to create more than 760 new connections and serve about 3,800 beneficiaries, producing up to 2,300 MWh per year and avoiding roughly 1,840 tons of CO2 annually. KGE targets commercial and industrial anchor clients through long‑term power purchase agreements while also selling to small and medium businesses, households, and institutions. Management says the company seeks rapid scale in eastern Congo, aiming to deploy and operate an additional 33 MWp of capacity by 2023. Financing support from investors has been used to start construction and to refine the company’s business, financial modeling, and environmental and social policies.

Participated · Series A · Jul 2021

MyJouleBox, active since 2012, operates across West Africa under the trade brand ARESS and provides a range of off-grid solar solutions from solar home systems to large back-up systems for commercial customers. The company follows a one-stop-shop approach serving retail, SMEs and community segments and has reached more than 300,000 people in four countries. Operating profitably since inception, MyJouleBox positions itself as a cost-efficient last-mile operator with developed technical and commercial know-how. The funding announced targets deployment of up to 36 MW of photovoltaic modules by 2023 and aims to add roughly 55,000 new beneficiaries while saving over 40,000 tons of CO2 equivalent per year. The company plans to strengthen its position in Benin and accelerate expansion into Burkina Faso, Senegal and Togo.

Participated · Equity · Dec 2019

UpOwa supplies Pay-As-You-Go (PAYG) solar home systems and energy services to households and entrepreneurs in rural Cameroon. The company is focused on expanding market penetration in challenging and isolated areas and plans to distribute higher-capacity solar home systems to amplify impact. UpOwa emphasizes scaling its model professionally while partnering with strategic investors and debt providers. Management includes CEO and co-founder Kilien de Renty, CBDO and co-founder Caroline Frontigny, and Loïc Descamps, managing director of UpOwa Cameroon. UpOwa secured a €3 million debt facility from EDFI ElectriFI to accelerate expansion in rural areas. The company previously completed a 2019 equity round with REPP, Colam Impact and LITA.co and extended a working-capital debt facility from Lendahand. EDFI ElectriFI expects the financing to help UpOwa reach over 60,000 households and entrepreneurs with access to clean electricity in the coming years. upOwa is a Cameroon-based Pay-As-You-Go (PAYG) solar energy provider focused on delivering affordable clean power to low-income earners and small communities. The startup offers off-grid solar solutions aimed at supporting small businesses and household energy needs. It has set a target to provide affordable power for more than 1 million homes by 2022. upOwa plans to use newly raised funds to scale growth and expand its services to additional local communities within Cameroon. CEO Kilien de Renty highlighted the company’s rapid growth and praised investor support. The article notes investors will also open access to debt funding to support the company’s expansion across East Africa.