EWIA Green Investments, which operates in the commercial renewable energy space in West Africa, has launched a fund raising to accelerate its growth plans across the region
The company provides solar financing and operation for commercial and industrial users in Ghana, but is keen on expanding into the Nigeria and Cameroon markets.
“Power generation is too expensive and dirty in large parts of Africa, and blackouts are a daily occurrence,” said co-founder and managing director Ralph Schneider.
”EWIA is helping to meet Africa's growing energy needs with clean, affordable and reliable solar power.”
In 2020, EWIA launched in Ghana as a dedicated solar financier, helping medium-sized businesses transition from diesel generators to clean, cost-effective solar energy.
By analysing electricity demand and refinancing potential across various industries, it designs tailored solar solutions that meet the specific needs of each client.
Today, EWIA also installs PV systems in-house, acting as an EPC project developer responsible for engineering, procurement and construction.
A subsidiary division also builds solar-powered telecom towers for mobile network operators.
The new financing round, released on the digital funding platform Conda, will raise additional equity for its growth ambitions.
It follows the acquisition of SunErgy GmbH in April this year, which gave EWIA entry into the Cameroon market.
SunErgy has been licensed by Cameroon to establish solar power supplies for 92 villages with approximately 600,000 people, as well as schools, health centres and private and public companies in the southwestern region of the country.
At the same time, EWIA is keen to expand into the Nigerian market.
Over the next five years, it aims to grow its project portfolio to over €63 million (US$72mn) and significantly increase its footprint in West Africa.
"By transferring capital and know-how to sub-Saharan Africa, we help local businesses operate more successfully, become more competitive and create jobs — all crucial factors for both the economic and social development of a continent with the youngest and fastest-growing population in the world," said co-founder and managing director Timo Schäfer.
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