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- Newly-formed solar firm raises $60 million in equity
Newly-formed solar firm raises $60 million in equity
Source: Inspired Evolution
From the newsletter
Climate investment firm Inspired Evolution, together with several international developers, has launched Sedgeley Solar Group (SSG), a new platform formed by merging two leading Southern African renewable energy companies, SolarSaver and Sedgeley. The platform now operates across South Africa, Namibia, Botswana, and Zambia.
Other recent mergers and acquisitions in the sector include Starsight Energy and SolarAfrica, Shell and Daystar Power, and most recently, Ignitie Power acquired ENGIE’s off-grid subsidiary, ENGIE Energy Access Africa, to scale minigrids.
Mergers form larger companies that can better absorb the complexity and risks of African markets, such as currency fluctuations or regulatory hurdles.
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