Off Grid Electric scores $7M to provide solar energy to Tanzanian homes
Off Grid Electric has raised $7 million in a funding round led by Vulcan Capital, SolarCity, and Omidyar Network. The company aims to provide solar energy to households in Tanzania, where 85% do not have electricity, according to an exclusive report by VentureBeat.
Aside from the contribution of its existing investors, Off Grid also received grants and loans from other entities including the Africa Enterprise Challenge Fund and the Energy and Environment Partnership for Southern and Eastern Africa (EEP), the report detailed.
Off Grid provides prepaid solar electricity to African households every week. The firm earns money by charging a small amount for the electrical service and installation. As of now, 10,000 Tanzanian households have already signed up for the service, the report explained.
Co-founder Xavier Helgesen encourages potential clients to switch to solar energy to achieve cheaper and higher-quality service. He also said he will not stop campaigning for solar energy until he achieves the company's goal to "light Africa in a decade," VentureBeat reported.