Mirova Investment Bolsters ManoCap Energy's Expansion in West Africa

French sustainable asset manager, Mirova, has pledged a $20 million investment through its Mirova Gigaton Fund to boost the commercial and industrial (C&I) solar company, ManoCap Energy, in West Africa.

The strategic long-term debt funding will empower ManoCap Energy to fortify its presence in Ghana and Sierra Leone, while propelling expansion into various countries including Nigeria, Ivory Coast, Guinea, Liberia, and Togo.

Established in Ghana, ManoCap Energy focuses on replacing diesel generators with solar and battery systems for businesses, offering an eco-friendly and economical solution to decrease carbon emissions. With financial backing from Mirova, ManoCap aims to upgrade its infrastructure and cater to the escalating demand for renewable energy in West Africa's C&I sectors.

In a press release, Tom Cairnes, the CEO of ManoCap Energy, expressed, "We have witnessed remarkable growth in the C&I sector in the region over the past few years, and this funding will assist us in meeting the substantial short-term demand from our customer pipeline."

Cairnes further added, "Partnering with Mirova teams provides us with financial and technical support. With Mirova's profound insight into the sector's opportunities and challenges, we are excited to construct a robust business together."

Source: bne IntelliNews