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– Zola Electric, a solar energy provider, raised $90m in funding.
– The funding raised is a combination of debt and equity, $45 million each.
– The equity bit was led by TotalEnergies Ventures — the capital venture of TotalEnergies; SF-based impact VC firm DBL Partners; Africa’s largest PE firm Helios Investment Partners; Vulcan Capital, the investment arm of Paul Allen; Lyndon and Pete Rive (founders of Tesla-owned SolarCity); and New York-based utility-focused hedge fund Electron Capital Partners.
– The company plans to use the funding to expand into new markets and drive distributed renewable energy.
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