Bboxx, an off-grid solar developer, and its partner the EDF Group, an integrated energy company and leader in low-carbon energy, secured a loan of EUR 11 million (~USD 11.5 million) from the Off Grid Energy Access Fund managed by Lion’s Head Global Partners Asset Management.

This funding will support Bboxx’s efforts of distributing solar home systems to last-mile customers in Togo. The company aims to achieve the Government of Togo’s objective of reaching 1.5 million people by 2030. Bboxx and EDF have been operating in the country since 2018.

Analyst QuickTake: This effort of expanding operations in Togo comes following Bboxx partnering with Unilever in September 2022 to accelerate the provision of clean energy access for households across Kenya through the latter’s detergent brand Sunlight. The two companies aim to connect an additional one million people over the next three years. During the same month, Bboxx also acquired PEG Africa , a company that finances and deploys solar power to households and SMEs, to become the leading super platform for essential products and services in Africa