Mera Gao Power raises $2.5 million to expand rural India reach



Mera Gao Power has raised $2.5 million to expand its reach in rural India.

The capital will be used to expand solar power to 5,000 off-grid villages in Uttar Pradesh, a state in northern India with a mostly rural population of 200 million people.

Mera Gao Power launched in 2010 offering low-cost solar microgrids to small, very remote villages for as little as $1,000 per installation. The company operates in markets where grid expansion is unlikely in the near future, in spite of a government goal to electrify every Indian village by 2019.

Singapore-based Impact Investment Exchange (IIX) helped Mera Gao Power raise the capital from the Insitor Impact Fund, the ENGIE Rassembleurs d’Energies Initiative, and the Electrification Financing Initiative.

You might also like...