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.
- Number of beneficiaries
- Annual output (MWh/y)
- GHG avoidance (tCO2eq/y)
- >32 000
Impact
- Beneficiary
- Azuri Technologies
- Financing instrument
- Junior loan
- Amount
- EUR 1.5m
- Countries
- Kenya
- Technology
- Solar PV
- Business model
- SHS
- Year
- 2021
- Facility
- ElectriFI Global