Cordiant Capital lends $2.5 mln to Tanzania's Off Grid Electric
International Finance Corp (IFC), a member of the World Bank Group, has provided funding to Off Grid Electric, a Tanzanian solar leasing company. The IFC Cleantech Innovation Facility committed a US$4.5 million loan to the company. In addition, Cordiant Capital, a Canadian private equity and debt investor in emerging markets, committed a US$2.5 million loan. Off Grid Electric is a provider of home solar electric systems to consumers in rural and urban Tanzania. It plans to reach 200,000 households in the country by 2015.
6 February 2015•4 mins read
