Solarise Africa (follow-on)
- Country
- Kenya
- Technology
- Solar PV
- Business model
- CPP
EDFI ElectriFI invested USD 2.5m (top up on existing Series A USD 1.65m) to support Solarise Africa’s existing portfolio extension in South Africa and Kenya. The investment is expected to create around 134k indirect connections to electricity, employ 21 staff, and create 297 indirect jobs by 2023.
Contract signature date: July 2020
Country: Kenya and South Africa
Total ElectriFI financing: Series B USD 2.5m (top up on existing Series A USD 1.65m commitment from April 2019)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
ElectriFI committed USD 2.5m of mezzanine notes to support the extension of Solarise Africa’s existing portfolio in South Africa and Kenya.
Solarise Africa is a young company that provides tailor-made finance or rental solutions for captive solar installations and other renewable energy and energy savings assets to selected commercial and industrial (‘C&I’) sectors (i.e. educational institutions, agri-foods processing, manufacturing, real estate, etc.) of the Kenyan and South African economies.
- Number of beneficiaries
- 880146
- Annual output (MWh/y)
- 170154
- GHG avoidance (tCO2eq/y)
- 104586
Impact
- Beneficiary
- Solarise Africa
- Financial instrument
- Equity
- Amount
- Series B USD 2.5m
- Countries
- Kenya, Sounth Africa
- Technology
- Solar PV
- Business model
- CPP
- Year
- 2020
- Facility
- ElectriFI Global