Easy Solar Secures USD 7 Million Funding to Propel Last-Mile Energy Access in West Africa

Easy Solar, a prominent last-mile energy access company in West Africa, has successfully raised USD 7 million in a funding round from Acumen, Cygnum Capital, and Triodos Investment Management.

Easy Solar operates in Sierra Leone and Liberia and they are dedicated to making sustainable energy solutions and life-improving products affordable and accessible to both households and businesses. Despite challenges like rising fuel and food prices and persistent currency depreciation, Easy Solar has formed strategic partnerships with investors to enhance its core capabilities. Having recently connected over a million lives to energy solutions in the region, the company is positioned for significant growth.

Easy Solar’s CEO, Alexandre Tourre, is excited about Triodos Investment Management’s investment, emphasizing their expertise in commercial and industrial solar—a vital growth sector for Easy Solar in the face of rising energy prices in the region. Tourre also appreciates the continued support from long-time investors Cygnum Capital and Acumen, recognizing their crucial role in advancing Easy Solar’s vision. Together, they are leading the way in shaping a cleaner energy future for West Africa.

In collaboration with TCX, Cygnum Capital’s facility will enhance Easy Solar’s access to local currency financing in Sierra Leone. Acumen, on the other hand, will contribute with an innovative inventory financing instrument tailored for challenging markets. Triodos Investment Management’s equity support will foster the growth of Easy Solar’s commercial and industrial solar business in the region, as well as facilitate the company’s expansion plans.

Jiwoo Choi, Chief of Strategic Initiatives at Acumen, commended the long-standing partnership with Easy Solar, highlighting their commitment to bringing transformative energy access to underserved communities. Marius Groenenberg, Principal Investment Manager at Triodos Investment Management, emphasized the significance of small-home and small-scale commercial and industrial solutions in Africa’s energy landscape, noting Easy Solar’s role in addressing these needs.

However, Easy Solar is a leading last-mile energy access and distribution company in West Africa, recognized for its widely acclaimed brand and rapidly growing commercial and industrial business. With over 300 points of sale and an extensive network of agents, Easy Solar is uniquely positioned to reach last-mile clients and provide clean energy solutions to households, hospitals, educational centers, and businesses. Since 2016, the company has powered over a million lives in Sierra Leone and Liberia.