Appleby Assists Leading Power and Energy Group Zola on USD 90 Million Funding
Leading offshore law firm Appleby has assisted the leading power and energy group ZOLA on its US$ 90 million funding raise by way of equity and loans.
The equity funding was led by a pool of investors which included TotalEnergies Ventures — a capital venture of TotalEnergies. The debt financing featured, amongst others, top energy lenders FMO and SunFunder, two entities known to provide debt capital to solar companies in emerging markets.
Proceeds will be used to develop next generation hardware and software technology, focused on bringing reliable, affordable and clean energy to Africa, Asia and Latin America.
ZOLA’s leading technology is bringing distributed, clean, digital energy solutions to those who lack reliable and affordable energy, commonly referred to as the Energy Access sector.
The deal was a multi-jurisdictional transaction, and the Appleby teams, advising on Mauritius and Cayman Islands laws, comprised of Group Managing Partner Malcolm Moller, Partner Vincent Chan and Counsel Melissa Virahsawmy.