Solarise Africa, a Kenya-based company, has just raised $ 10 million for the expansion of its activities in West and East Africa. The funds will notably help to set up 100,000 connections over the next five years.
The energy company Solarise Africa has raised $ 10 million to finance its expansion in Africa. The company, which is based in Kenya, leases power generation facilities from renewable sources to its customers who are mainly industrial or commercial organizations.
It raised financing from partners such as the private equity fund Energy Access Ventures, ElectriFI the electrification financing initiative set up by the European Union and Proparco, the branch of the French Agency for development dedicated to private companies.
With these funds, Solarise plans to expand its activities in Africa. It is already present in Kenya, South Africa and Rwanda and aims to expand into the eastern and western regions of the continent. “We believe Solarise is in an excellent position to achieve its ambitious plans targeting more than 150 MW of solar assets, which corresponds to reaching over 100,000 indirect connections over the next 5 years. This is a very significant contribution to electrification efforts in sub-Saharan Africa , ” said Dominiek Deconinck, CEO of ElectriFI.
Source: Agence Ecofin