Solarise Africa
- Country
- Kenya
- Technology
- Solar PV
- Business model
- CPP
ElectriFI financed Solarise Series A investment round with a USD 1.65 million equity and quasi-equity, together with Energy Access Venture. This greenfield company provides tailor-made finance or rental solutions for captive solar installations to commercial & industrial customers in Kenya and South Africa.
Contract signature date: April 2019
Countries: Kenya and South Africa
Total ElectriFI financing: USD 1.65m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
Brief description of the project
Solarise Africa is a greenfield 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 sectors (i.e. educational institutions, agro-foods processing, manufacturing, real estate, etc.) of the Kenyan and South African economies.
Funding objective
ElectriFI invested USD 0.5m equity and USD 1.25m mezzanine loan. The proceeds will be used to build and finance a portfolio of 6 MW of captive solar PV systems in South Africa and Kenya.
Why ElectriFi wants to fund this project
ElectriFI is supportive of Solarise business model as it supplements electricity from the national grid and diesel generator while bringing high-quality, stable, low cost, clean energy to C&I customers.
- Number of beneficiaries
- 17,424
- Annual output (MWh/y)
- 2,582
- GHG avoidance (tCO2eq/y)
- 1,571
Impact
- Beneficiary
- Solarise Africa
- Financing instrument
- Equity
- Amount
- USD 1.65m
- Countries
- Kenya and South Africa
- Technology
- Solar PV
- Business model
- Captive Power Plant
- Year
- 2019
- Facility
- ElectriFI global