Solarise Africa has the funds to expand its solar PV portfolio in Africa. The Sandton, South Africa-based company raised €33.4 million. The facility was secured in a transaction organized by the Energy Investment Facility (EIF), a renewable energy financing facility established by the African Development Bank (AfDB) and managed by Lion’s Head Asset Management.
EIF allocates $21.4 million in funding. Dutch impact investor Oikocredit contributes $7 million. The remaining $5 million is provided by the AfricaGoGreen Fund (AGGF). The funding will enable the company to accelerate the development of its project portfolio in Kenya and other African countries.
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“We are proud to welcome these three prestigious new investors to our existing investor group. During 2022, we have significantly increased our footprint and portfolio, and with this new loan, we will be able to increase our efforts to develop the deployment of renewable energy in Africa,” enthuses Jan Albert Valk, managing director of Solarise Africa.
Founded by Patrick Huber and Jan Albert Valk with the support of local partners, the company develops, finances and manages systems for commercial and industrial (C&I) customers. The company operates in South Africa, Rwanda and Kenya, where it supplies several companies with solar photovoltaic energy. A few weeks ago, Solarise Africa announced an alliance with solar energy provider Centennial Generating. Through this partnership, Solarise wants to expand its services in East Africa, targeting the Ugandan and Zambian markets.
Jean Marie Takouleu