Press Release: Ignite Power’s Subsidiary Westa Solar Secures $15 Million Investment from AFRIGREEN to Expand Across Africa’s C&I Sector
Ignite Power has secured $15 million in senior debt financing from Afrigreen Debt Impact Fund (“AFRIGREEN”), a leading renewable energy investor focused on Africa, for its subsidiary Westa Solar, which specializes in commercial and industrial (C&I) solar energy. This substantial investment will fuel Ignite’s ambitious expansion plans, targeting vast, underserved market segments across West Africa by offering innovative and flexible financing solutions to businesses. The investment begins with an initial tranche of $4 million, followed by a $11 million disbursement contingent on the deployment of the first phase and confirmation of the parties’ mutual intent. This agreement will drive the company’s mission to accelerate the adoption of solar energy in the region, starting with a focus on Nigeria.
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