Kenyan energy company Solarise banks additional $3m funding

Kenyan energy company Solarise Africa has secured an additional US$3 million from EDFI ElectriFI to provide tailored financing solutions for decentralised energy solutions to selected commercial and industrial (C&I) customers across the continent.

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

The company, which provides smart financing via a selected group of partners, is already well-capitalised, most recently raising US$33.4 million in debt funding last month, and has now secured an additional US$3 million from previous investor EDFI ElectriFI. 

While Solarise Africa has operations across Kenya, South Africa, Uganda and Rwanda, this financing is allocated to Kenya, where most of its operations take place. The ElectriFI Country Window for Kenya is developed in partnership with EU Delegations and host governments.

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“As an existing shareholder holding shares under the Series A and the Series B rounds, EDFI ElectriFI is proud to reinforce its partnership with Solarise Africa and to support the service platform to grow its assets portfolio in Kenya. We expect this investment to bridge the funding needs until the company closes its upcoming equity round,” said Geraldine Crosset, ElectriFI senior investment officer at EDFI MC.

“Solarise Africa appreciates the trust EDFI ElectriFI continues to place in us with this third investment. With the funds, we can further expand our team and hope to make solar energy a reality for more businesses and to help drive renewable energy adoption on the continent,” said Valk.

Source: Disrupt Africa