DRC-based Altech Group has secured $18 million in debt financing and grants to expand its solar energy sales and distribution network across the country – from the Energy Entrepreneurs Growth Fund (EEGF) Triple Jump and Rabobank, respectively.
Founded in 2013, Altech has established a national footprint with 4,500 employees and sales agents, serving more than 140 shops across 22 provinces in the DRC. The company has sold over 350,000 solar energy products, impacting over 1.7 million Congolese.
Altech plans to open over 30 new sales outlets in rural areas without competition and distribute 180,000 solar products, extending clean and reliable energy access to 900,000 people.
The growth capital will help Altech to continue connecting off-grid households in the rural, peri-urban, and urban areas of the country to affordable, clean, and reliable solar solutions while creating thousands of green jobs for Congolese youth.