Home Tech Solarise Africa raises $33.4M to solidify its position in Kenya’s solar market and expand across Africa : TechMoran

Solarise Africa raises $33.4M to solidify its position in Kenya’s solar market and expand across Africa : TechMoran

by kenya-tribune
36 views
Solarise Africa, a pan-African Energy-as-a-Service company has received a $33.4 Million facility, the largest C&I debt raise in Africa to date from Lion’s Head managed fund, the Facility for Energy Inclusion (FEI) to help the firm to solidify its position in Kenya’s solar market and expand across Africa.

FEI will provide USD 21.4 million of the total amount while Oikocredit will contribute USD 7 million and Lion’s Head managed fund, AfricaGoGreen Fund “AGG”, USD 5 million.

According to Jan Albert Valk, CEO and Co-Founder of Solarise Africa, “We are very honoured and grateful for the confidence the investors have shown in us. As the largest debt raise in Africa’s C&I space to date, this proves that Solarise Africa has a solid business model. We are proud to welcome these three prestigious new investors – Lead arranger FEI, Oikocredit and AfricaGoGreen – to our current group of investors. Throughout 2022, we have significantly grown our footprint and portfolio, and with this new loan, we will be able to catapult our efforts to advance renewable energy adoption in Africa,” said

Solarise Africa provides reliable and affordable decentralised energy solutions for businesses in Africa. Through close collaboration with its partners, the company offers innovative full-service solutions that cover designing, building, financing, and maintaining renewable energy installations. The company was nominated as African Solar Company Of The Year in the 2022 AFSIA Solar Awards.

You may also like