A Nairobi-based renewable energy company, PowerGen has raised US$4.5 million from numerous investors to enlarge its portfolio and reach many more customers.
The company was launched back in the year 2011; PowerGen concentrates on the challenges of renewable energy and energy access in the East African region via independently-operated small-scale electricity set-ups or micro-grids.
Since launch, it has provided thousands of clienteles across seven states, such as Zambia, Tanzania and Kenya, with clean, renewable energy – off-grid solar and wind power systems.
PowerGen plans to utilize the new resources in spreading out its existing micro-grid portfolio, thus supplying more than 7,500 consumers with connections to the grid and giving an additional 50,000 people access to electricity within the next two years.
“In the past, the people who broke the new ground of wireless telecommunications made a huge gamble that African customers would want world -class mobile communications service, and they went on to invest seriously in the infrastructure to convey it by constructing thousands of telecoms towers all over the continent,” said Sam Slaughter, PowerGen’s CEO.
He also added, “And the outcome is there: African telecoms have now notably leapfrogged the West, for example, bypassing out-of-date landline infrastructure and structuring mobile payment systems that many of the Western states are yet to see. There is a related opportunity in the present day in the power sector.”
Leading the Series A funding round is DOB Equity, a Dutch Family Office, with AHL Venture Partners and private investors Marc Beuls, former President and CEO of Millicom International Cellular, and Billy Harbert, CEO of BL Harbert International, participating.
Powergen Technologies Ltd has gained a great deal of experience over the years as Engineering Services provider. They are aggressively involved in providing Electrical and other Engineering services to numerous clients.
They have a lineup of extremely qualified Engineers and skilled staff, up to date equipment and competent quality management structures, to convey the services to their well-regarded clients.