Energy Access Ventures invests in Chad-based electrification company
Posted on: 16 July, 2020 at 3:38 PM
ZIZ Energie, a Chad-based electrification company, has raised funding led by Aster’s early-stage African fund, Energy Access Ventures (EAV), which invests in and supports decentralised energy companies across sub-Saharan Africa.
Founded in 2006 by Ibrahim Zakaria, a Chadian engineer, ZIZ rapidly emerged into one of the national leaders in electrical equipment distribution, EPC services, and energy services for secondary cities and commercial and industrial (C&I) clients.
Having successfully operated diesel-powered sites in several Chadian towns for the past decade, ZIZ is now developing MW scale ‘metro-grids’ by hybridising these sites through solar and storage to extend their distribution network and increase population coverage and operating hours.
In addition, ZIZ is expanding its electrification efforts across new cities in Chad, North Cameroon and other Central African countries. The company is leveraging its 13 years of experience and profitability to lead the C&I, grid extension and rural electrification efforts in the region.
“We are excited to welcome EAV to Chad. EAV’s investment allows us to execute on our vision of decentralised green energy for Central Africa and our mission to be the main vector in Chad,” says Ibrahim Zakaria, founder and CEO of ZIZ Energie.
“We believe that companies like ZIZ are best positioned to champion universal clean energy access efforts in frontier markets. Our investment in ZIZ marks an important step in the acceleration of the energy access revolution across Central Africa’s frontier markets. We are proud to back Ibrahim Zakaria, a Chadian entrepreneur who wields deep knowledge, operational skills and networks. ZIZ team navigates dynamic business contexts and nascent regulatory landscapes to become the clear leader in the region,” says Vladimir Dugin, principal at EAV.
Reach Africa’s private equity community by publishing a Showcase Article on Africa Private Equity News. Contact us at email@example.com for our rate card and more information.