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AfrElec RENEWABLES AfrElec

InfraCoafrica invests $15 mn

to accelerate bboxxs growth

and geographic expansion

INFRACO Africa has signed agreement com- Goals: Affordable and Clean Affordable and
ASIA mitting to provide $15 mn to Bboxx to expand Clean Energy for all (SDG 7), Gender Equal-
access to clean reliable electrical energy to ity (SDG 5) and Climate Mitigation (SDG 13)
underserved communities in Africa. through increasing access to clean and reliable
InfraCo Africa, a unit of Private Infrastruc- energy.
ture Development Group (PIDG) has commit- InfraCo Africa’s Chief Investment and Risk
ted to provide $15 mn of convertible loan notes Officer Claire Jarratt said Bboxx is a well-estab-
to Bbox that supplies solar home system (SHS) lished and exciting player in clean energy sector
and develops mini-grid facilities. especially in theSHS space.
The next generation utility has sucessfully “Today’s investment by InfraCo Africa will
delivered clean energy solutions to over 2.5 mn further support Bboxx in its continued growth,
people globally. The company has major opera- supplying clean energy solutions for hundreds
tions in Rwanda, Kenya, Togo, Nigeria and Dem- of thousands of customers across sub-Saharan
ocratic Republic of Congo (DRC). Africa in the coming years,” she said
“This investment will enable Bboxx’s acceler- The commitment of $15 mn follows recentl
ation in existing and new markets across sub-Sa- investment of InfraCo Africa’s sister PIDG com-
haran Africa to provide clean energy solutions pany, Guaranto, which provided KES 1.6 bn ($15
to millions of people in the region,” said InfraCo mn) loan partial guarantee in support of Bboxx’s
Africa in May 13 press release. operations in Kenya.
InfraCo Africa has a strong track record in Bboxx Chief Executive Officer Mansoor
the off-grid solar space, with mini-grid initia- Hamayun said global problem of insufficient
tives in Uganda, Sierra Leone and Kenya. The energy access can only be solved sustainably
company also supports solar-powered irrigation through the provision of innovative financing
in Senegal. solutions.
InfraCo Africa said agreement with Bboxx “We are therefore delighted to announce this
marks the firm’s first investment in the SHS space transaction with InfraCo Africa, significantly
in line with the unit of PIDG desire to broaden aiding our mission to transform the lives of
access to clean energy across rural areas and millions in the developing world and helping to
communities using alternative models. reach the UN’s SDG7 – clean energy for all,” he
Bboxx and InfraCo Africa have now commit- said.™
tted to contribute to United Nations Sustainable

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