Solar Panda
- Country
- Kenya
- Technology
- Solar PV
- Business model
- SHS
EDFI ElectriFI invest USD 4m in early-stage pay-as-you-go Solar Home System (SHS) provider Solar Panda to bring clean energy access to Kenyan households and create jobs.
Contract signature date: June 2022
Total ElectriFI financing: USD 4 m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
EDFI ElectriFI committed USD 4m to allow use of clean energy among Kenyan households, create local jobs, catalysing additional debt and equity investments, and supporting access to energy initiatives in Kenya underserved counties.
Solar Panda is an innovative company providing home solar systems to rural African communities without access to electricity. Their pay-as-you-go model allows millions of families to have electricity for less than the daily cost of kerosene and mobile phone charging. By harnessing the power of the sun, their customers have a clean, safe and healthy source of electricity.
- Number of beneficiaries
- 2,425,537
- Annual output (MWh/y)
- 15,673
- GHG avoidance (tCO2eq/y)
- ~400,807
Impact
- Beneficiary
- Solar Panda
- Financing instrument
- Equity
- Amount
- USD 4 m
- Countries
- Kenya
- Technology
- Solar PV
- Business Model
- SHS
- Year
- 2022
- Facility
- ElectriFI CW Kenya