KACHARAGADLA

The popular SolarCity leasing model moves into the African continent. DBL Partners, the same venture capital fund that supported SolarCity for many years, has led the largest venture capital funding for distributed energy in Africa. Off Grid Electric announced today that it raised $25 million in a Series C investment. Off Grid Electric, based in California and Tanzania, is installing  solar  in over 10,000 homes and businesses per month with what it calls “its radically affordable solar leasing platform.” The company designs, manufactures, sells, installs and services solar home units in Tanzania and is announcing today that it will be entering Rwanda. The agreement with the government of Tanzania targets one million home solar installations in the next three years. Off Grid Electric conducts door-to-door sales through a team that travels to rural parts of East Africa. The product includes more than just solar; also providing customers with efficient appliances such LED lights