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Canadian Solar Inc. plans to invest in Berlin-based off-grid solar service provider SolarWorX’s Series A investment round.
- SolarWorX offers the Solego, a modular off-grid solar solution powered by solar panels.
- SolarWorX believes that this partnership will enable the company to utilise Canadian Solar’s strong network of suppliers, sales channels, and logistics on the continent to reduce costs.
Canadian Solar Inc. plans to invest in Berlin-based off-grid solar service provider SolarWorX’s Series A investment round. Canadian Solar will be joined by co-investors EIT InnoEnergy and the German development finance institution, Deutsche Investitions und Entwicklungsgesellschaft (DEG). DEG intends to utilise funds from the German government’s develoPPP.de program to help SolarWorX expand its product offerings and services to many of the 1.2 billion without access to a stable electricity grid.
SolarWorX main product offering is the Solego, a modular off-grid solar solution powered by solar panels. The systems that come with either 80Wh or 160Wh battery capacity can be stacked to increase capacity. They provide flexible electricity to homes, small businesses and entire communities.
SolarWorX’s is also developing a smart DC grid solution, MESH. This system will allow Solego users and other 12V solar-battery systems to share solar-power between 2 to 100 households and small and medium enterprises (SMEs). Pre-commercial testing for MESH will commence by Q2 2021.
SolarWorX’s currently operate in Cameroon, Zambia and Nigeria, with South Africa. The company is looking to expand its services to countries with low grid access and will benefit from the large-scale rollout of affordable off-grid power systems.
SolarWorX believes that this partnership will enable the company to utilise Canadian Solar’s strong network of suppliers, sales channels, and logistics on the continent to reduce costs.