Karl Boyce, CEO of ARC Power, said: “Having successfully delivered the first phase, ARC Power has secured a significant pipeline across four countries in East and Southern Africa, and we are now working on our Series-A to allow us to really scale in line with our vision of building a pan-African clean utility business.”

Under the exit deal, the repayment will settle ARC Power’s debt to REPP (which is managed by Camco). The equity conversion will further support ARC Power’s expansion plans in Rwanda.