Industry Newsroom

Lumos Global Raises US$90 Million from OPIC, Pembani Remgro, VLTCM and ICV (Sub-Saharan Africa)

Nigeria-based off-grid solar firm Lumos Global has raised US$90 million from development finance institution Overseas Private Investment Corporation (OPIC), Sub-Saharan Africa-focused investment firm Pembani Remgro Infrastructure Managers, VLTCM and Israeli cleantech venture specialist ICV. The new funding comprises US$50 million in debt provided by OPIC and US$40 million in equity from Pembani Remgro, VLTCM and ICV. Lumos Global will use the new capital to expand into other countries, building on its foundation in Nigeria.