DRC – Swedish-based investment platform Trine has partnered with Altech Group, a market leader in the Democratic Republic of Congo (DRC), distributing world-class clean energy products and services to bring clean energy to the country.
This comes at a crucial time where nearly 90% of the population of over 80 million are without access to electricity.
The new partnership, totaling US$6 million across multiple tranches, is set to accelerate investments in solar in the DRC, expanding access to clean, reliable, and affordable energy for off-grid and poor-grid households.
Later debt financing rounds will follow in 2021.
“We are pleased to announce Altech Group is coming onboard as our partner, elevating our offering towards investors within the solar home system sector. Nearly 90% of the population of over 80 million is without access to electricity, which means there is a tremendous market potential for Altech’s products. Their innovative life-improving product solutions will bring tremendous value to our portfolio and we hope investors will find them as interesting as we do,” Sam Manaberi, CEO and co-founder of Trine.
“Altech’s innovative life-improving product solutions will bring tremendous value to our portfolio, and we hope investors will find them as interesting as we do”Sam Manaberi – Co-founder and CEO, Trine
“This commitment from Trine is a significant inflection point for Altech. Since 2013 we’ve built a near-national distribution network, sold over 220,000 products, and impacted more than 1.2 million lives, all without any real access to capital. We believe that our relationship with Trine and the scale of the commitment will only lead to an even greater number of people getting access to our life-changing products,” Washikala Malango, CEO and co-founder of Altech Group
Trine is an investment service providing debt capital to innovative solar-focused businesses in emerging markets.
Their financing is designed to cover the CapEx of the solar systems with terms that are tailored to each borrower, and they commit to long-term funding partnerships to help scale businesses.
Trine has over 11,000 investors across Europe and 28 borrowers operating in 16 different countries.
Altech Group is the DRC market leader in the distribution of world-class, pay-as-you-go clean energy products and services. Since its founding in 2013, Altech has built a near-national distribution network, sold over 220,000 products and impacted around 1,200,000 Congolese lives.