Debt financing

Kenyan energy company Solarise Africa secures $ 5.9 million in debt financing for growth

Kenya-based energy leasing company Solarise Africa has secured 5 million euros (US $ 5.9 million) in debt financing from Swedish impact investing platform Trine to help it support its growth across the continent.

Founded by Patrik Huber, Jan Albert Valk and Sakkie van Wijk, Solarize Africa is an energy rental company for solar and other energy assets focusing on commercial and industrial (C&I) customers.

The company, which offers smart financing through a group of selected partners, raised a $ 10 million Series B round of funding last year, and he has now topped that off with a € 5million debt of Trigone, an investment service designed specifically to provide debt capital to innovative solar-powered companies in emerging markets.

The funds, which will be disbursed in installments, will advance investments in food security, renewable energy, urban development, manufacturing and production in South Africa, Kenya, Ghana and Rwanda. The first disbursement will finance five solar projects in South Africa and Kenya.

“Our first debt increase marks a significant milestone for the company,” said Valk, CEO of Solarise. “We are deeply honored by the confidence of Trine and its investors. These funds will be used to deploy projects and increase market share in current operational countries. At present, Solarise Africa has operations in Kenya, South Africa, Rwanda, Uganda and Ghana where several projects have been deployed, and our pipeline continues to grow rapidly. We are delighted to make our Energy-as-a-Service offering available to more partners so that we can actively contribute to Africa’s progress together. “

Sam Manaberi, CEO and co-founder of Trine, said he was excited about the new partnership as his company moved into the commercial and industrial market.

“This presents a new offering for our investors, as Solarise Africa works with a select group of renewable energy solutions companies and works very closely with their partners to provide a range of tailor-made financial solutions to their clients. Their innovative financing solutions are very impressive and we are happy to have them on board and look forward to following their continued success, ”said Manaberi.

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