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Accra, June 22, 2016
 
I&P PARTICIPATES TO PEG’S $7.5 MILLION ROUND
TO EXPAND ACTIVITIES IN WEST AFRICA

 
Accra, Ghana –  PEG, the leading off-grid solar company in Ghana, announced today that it has closed a $7.5 million Series A round.  The funding will be used to expand operations in Ghana, build out the management team, and to enter Ivory Coast. ► Read Press Release
 


 
PEG has over 10,000 customers and operates 29 service centers in 7 regions of Ghana.   The Series A investment comes from a $4.3 million USD A-2 round which closed today and follows an earlier A-1 investment of $3.2 million in September 2015. The A-2 round was led by Energy Access Ventures, and includes Blue Haven Initiative, as well as follow-on investment from existing investors, Investisseurs & Partenaires (I&P) and Engie Rassembleurs d’Energies.  These investors join Impact Assets and Persistent Energy Capital, among others.

Hugh Whalan, CEO of PEG, says: We are thrilled to receive the support of new and existing investors, and to continue our vision to bring pay-as-you-go financing to the massive, and largely ignored, West African market.  As a market leader in this region, where there are 35 million off-grid homes, we are uniquely placed to do this.”

Sebastien Boyé, Chief Investment Officer of I&P, commented: “I&P is very enthusiastic to participate in PEG’s new round of financing. As one of the first investors, we are strong believers in PEG’s mission and their potential”



 
Read the Press Release
Contacts

Emilie Debled, PR and Business developpement director | e.debled@ietp.com
Sébastien Boyé, Chief Investment Officer | s.boye@ietp.com
Copyright © 2016 Investisseurs & Partenaires, All rights reserved.


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