Deals - Oct 22, 2020

Asafo & Co. recently advised Sunkofa, a mini-grid developer and operator, in its first equity funding raise with Gaia Impact Fund.

Sunkofa Energy develops and operates solar mini-grids in Africa that provide energy to inhabitants living in off grid areas. The funding will help Sunkofa expand in its core Sub Saharan African markets, particularly in Western and Southern Africa, and accelerate access to affordable, reliable and sustainable energy. The company aims to provide access to electricity to more than 1 million Sub Saharan African people in the medium term.

Sunkofa has an extensive pipeline of projects, including recently securing one of the biggest solar mini-grid projects in Western Africa by US development Financing Institution MCC (Millennium Challenge Corporation). The project aims to deploy 40 solar mini-grids and provide electricity to more than 80,000 Beninese inhabitants.

The Asafo & Co. team advising Sunkofo was led by Henri-Olivier Essienne in the Paris office.