Page 11 - AfrElec Week 48 2022

AfrElec RENEWABLES AfrElec

Kenya-based Solarise Africa

raises $33.4mn towards

regional expansion

AFRICA SOLARISE Africa has raised $33.4mn to expand Co-Founder of Solarise Africa.
its portfolio in Kenya and other countries, the “We are proud to welcome these three pres-
pan-African Energy-as-a-Service company tigious new investors to our existing investor
announced. group. Throughout 2022, we have significantly
Facility for Energy Inclusion (FEI) and Oiko- increased our footprint and portfolio, and with
credit, a Dutch social impact investor and world- this new loan, we will be able to catapult our
wide cooperative, led the financing round. efforts to advance the adoption of renewable
EIF is providing $21.4mn in financing and energy in Africa,” he added.
Oikocredit $7mn. The remaining $5mn is being Solarise recently finished installations at the
provided by the AfricaGoGreen Fund (AGGF). Volvo Trucks manufacturing plant in Durban,
Solarise provides decentralized energy solu- South Africa, marking one of its most significant
tions for African businesses, providing innova- milestones. The 243 kWp solar facility was built
tive full-service solutions cutting across cover in collaboration with SEM Solutions.
designing, building, financing, and maintaining In February 2021, Solarise signed a partner-
renewable energy installations. ship with Centennial Generating, which pro-
“Throughout 2022, we have significantly vides energy services in East Africa, through
grown our footprint and portfolio, and with which Solarise expanded its services in the
this new loan, we will be able to catapult our region, with a focus on the Rwandan, Ugandan
efforts to advance renewable energy adoption in and Zambian markets.’™
Africa,” commented Jan Albert Valk, CEO and

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