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project

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.

Investment disclosure 

Learn more on: www.solarpanda.com

Impact

Number of beneficiaries
2,425,537
Annual output (MWh/y)
15,673
GHG avoidance (tCO2eq/y)
~400,807

Key indicators

Beneficiary
Solar Panda
Financing instrument
Equity
Amount
USD 4 m
Countries
Kenya
Technology
Solar PV
Business Model
SHS
Year
2022
Facility
ElectriFI CW Kenya
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