Inside Capital Partners is pleased to announce the third investment of its first fund, Inside Equity Fund, into NSI -Reneworld ("Reneworld"), to finance the expansion plan of a leading renewable energy company in Mauritius and across the Southeast Africa region.
Inside Capital Partners through its first fund Inside Equity Fund, signed off an initial investment of US$1.5mn with Reneworld to support the expansion plans of the company. Via equity injection and actively sharing its strong network on the region, the Fund will support products and geographical diversification of the company. Also, the Fund will help the business establish a financing vehicle dedicated to providing access to finance for the end customers, allowing for greater uptake of sustainable solutions.
Founded by three highly skilled engineers, Reneworld pioneered the development of Solar Energy solution for individuals and SMEs in Mauritius since 2011. Leveraging on the skillset of the top management, Reneworld's business model consists of identifying the best renewable energy and energy optimization solutions from across the world and cost-effectively deploying them in Mauritius and in the region.
Today, Reneworld is one of the leading suppliers of Small to Medium size Photovoltaic systems in Mauritius (both on-grid and off-grid) an is actively contributing towards the shift from fossil fuel energy to renewable energy in the country. Other than Photovoltaic systems, the company also installs extremely energy efficient cooling systems, solar water pumps, large scale water heaters and is currently working on the development of other innovative solutions such as solar refrigerated and micro-solar systems.
Mr Jerome Lagesse, the Managing Partner of Inside Capital Partners said, "In our region, the promoters of Reneworls really stand out in the renewable energy space in terms of passion and technical expertise. They have managed to identify and develop the best Photovoltaic long term value proposition for individuals and SMEs in Mauritius. Through the promotion of their wide solution offerings across the region, I am convinced that Reneworld will play a critical role in the promotion of renewable energy production, energy optimization and access to basic energy requirements for the masses. In some countries in our region such as Madagascar, this sometimes simply means providing basic facilities such as lighting or refrigerated food to communities not serviced by the grid. We are very proud to provide Reneworld with the support required to make this happen."
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