Nigeria-focused off-grid solar installer Lumos Global said on Thursday it has raised some USD 90 million (EUR 85m) in financing, most of which came from the Overseas Private Investment Corporation (OPIC), SeeNews. Renewables reports.
Lumos plans to use the fresh capital to expand in Nigeria, where it sees high demand for its solar systems, and into other countries. The company will be rolling out the service to homes, small businesses and community service centres such as hospitals, churches and mosques, it said.
Lumos has a partnership with Nigerian mobile telecommunications company MTN thanks to which its customers have the opportunity to pay for their solar systems using mobile phone credit. According to Lumos, this is the sector’s largest ever investment.
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