Solar firm makes inroads with 100,000 sales
By Correspondent | March 10th 2017
Azuri Technologies, a commercial off-grid solar company, has reached the milestone of 100,000 sales of its PayGo solar home systems in sub-Saharan Africa.
Since first entering the market in 2011, Azuri has provided access to affordable, clean energy for off-grid communities across 12 countries.
It comes shortly after the company announced a $5 million (Sh0.5 billion) debt facility provided by Standard Chartered Bank in February 2017 and the completion of an $11 million (Sh1.1 billion) equity funding round in December 2016, to support Azuri’s sustainable economic growth across Africa.
The finance will underpin the company’s ambitious growth in existing markets and accelerate growth in new markets, such as the programme announced in January 2017 to provide power to 20,000 households in Nigeria.
Azuri is at the forefront of new technology innovation, providing a reliable service alternative for off-grid customers, delivering lighting, phone charging, radio and TV access in affordable packages paid for through mobile money.
The solar firm product range includes the first complete PayGo satellite TV package targeting households without electricity, launched in Kenya in December 2016 and solar lighting systems that incorporate the company’s award-winning HomeSmart technology, which ensures households have light all night, even following cloudy weather.
“The milestone of 100,000 systems sold marks the next phase of Azuri’s journey. Coupled with the recently completed funding announcements, we look forward to continuing to grow our presence and serve the millions of customers that still lack access to modern electrical services,” said Azuri Chief Executive Simon Bransfield-Garth.
Director, Cleantech at IP Group, a founder investor and major shareholder in Azuri, Jamie Vollbracht, said the milestones reinforce the strides Azuri is making in providing PayGo solar solutions for this rapidly growing market. “We expect that Azuri’s innovative approach and world-class team mean that many more significant milestones are to come as Azuri further expands, improving the lives of hundreds of thousands of people across Africa.”
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