14 Nov '17, 8pm

West Africa's Off-Grid Market Drives Pay-As-You-Go Firm

West Africa's Off-Grid Market Drives Pay-As-You-Go Firm

West Africa’s booming off-grid solar industry is drawing international investors eyeing expansion. Lumos Global, a Dutch off-grid developer that raised $90 million last year to start business in Nigeria, said it’s expanding in Ivory Coast this month. In both countries, Amsterdam-based Lumos is using a partnership with MTN Group Ltd. that allows customers to pay for solar power with their mobile phones. “It’s all very clear that this is a viable solution,” said Lumos co-founder Nir Marom in a telephone interview from Lagos, Nigeria. “It’s growing in all of Africa, specifically West Africa.” Sub-Saharan Africa has the lowest rates of energy access on the planet and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends to businesses as well as households, cutting into productivit...

Full article: http://www.renewableenergyworld.com/articles/2017/11/west...

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