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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.

 

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Impact

Number of beneficiaries
17,424
Annual output (MWh/y)
2,582
GHG avoidance (tCO2eq/y)
1,571

Key indicators

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

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