The Electrification Financing Initiative (ElectriFI) has entered into a USD-2-million (EUR 1.74m) financing agreement with solar firm REDAVIA to support the latter’s expansion in Ghana’s commercial and industrial (C&I) sector.

This investment will aid the development of some 15 MWp of photovoltaic (PV) arrays for C&I off-takers such as educational institutions, agro-foods processing and manufacturing companies, ElectriFI’s Senior Investment Officer Quentin Antoine said today.

Germany-based REDAVIA offers modular solar farms and lease agreements to businesses and communities in West and East Africa. The firm signed a similar deal last October with asset manager responsAbility Investments AG. That USD-4-million contract was also focused on the Ghanaian C&I sector.

Source: Renewables Now