Ghana-based asset financing solar power company PEG Africa has landed $25 million in a Series C funding round.
PEG Africa raised the funds from existing backers including Energy Access Ventures, Blue Haven Initiative, Investisseur & Partenaires, and Acumen Fund, and new backers Total Energy Ventures and the Renewable Energy Performance Platform.
The company intends to use the funds to strengthen its position as a market leader in West Africa, where it already has operations in Ghana, Ivory Coast and Senegal.
The new round brings PEG Africa’s total funds raised to date to $50 million.