ImpactAlpha, November 24 – Bboxx has been installing smart, off-grid solar systems in greatly underserved markets like the Democratic Republic of the Congo (DRC) and Togo for a decade. It has now secured a $4 million loan from Lion’s Head’s $100 million blended-finance debt fund to expand its presence in the DRC.
The capital will enable the company to roll out more home solar units to households in the DRC, where less than 20% of the population has access to reliable electricity.
Lion’s Head invested via its Facility for Energy Inclusion Off-Grid Energy Access Fund. The fund issued Bboxx an $8 million loan last year for its work in Rwanda.
Bboxx says its systems have provided energy access for more than 1.3 million people.