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project

Azuri Technologies (follow-on)

Country
Kenya
Technology
Solar PV
Business model
SHS

ElectriFI invested EUR 1.5 m junior loan to support the expansion of Azuri’s Solar Home System business in Kenya

Contract signature date: March 2021

Total ElectriFI financing: EUR 1.5m earmarked to Kenya (as a follow-on investment to the existing investment of EUR 1.5m)

Environmental and Social Category: C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

About the project:

ElectriFI committed EUR 1.5 million to support the expansion of Azuri’s Solar Home System business in Kenya. This investment will facilitate energy access to an additional 20,000 households, producing clean electricity and avoiding >32,000 tCO2. It is expected that 200 direct permanent jobs will be created by Azuri’s local distribution partners in Kenya by 2023.

Azuri offers affordable solar home systems and services combined with mobile payment solutions to households in sub-Saharan Africa which do not have access to conventional power.

Investment disclosure

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Impact

Number of beneficiaries
Annual output (MWh/y)
GHG avoidance (tCO2eq/y)
>32 000

Key indicators

Beneficiary
Azuri Technologies
Financing instrument
Junior loan
Amount
EUR 1.5m
Countries
Kenya
Technology
Solar PV
Business model
SHS
Year
2021
Facility
ElectriFI Global
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