Mozambique Energy: Portugal EDP Takes Stake in Mozambique’s SolarWorks

Mozambique Energy: Portugal EDP Takes Stake in Mozambique’s SolarWorks

Energias de Portugal SA (ELI:EDP) announced today it has acquired a minority stake in Mozambique-based off-grid solar marketing firm SolarWorks! for EUR 2 million (US$2.32m). The acquisition was made by EDP Renovaveis SA (ELI:EDPR), which led a fundraising round for the target. Venture building firm Persistent Energy Capital LLC also took part in the capital hike. SolarWorks! operates a pay-as-you-go (PAYGO) business in Mozambique and this new investment will help it expand in Southern Africa….

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