Solarise Africa raises US$10-million from Energy Access Ventures, ElectriFI and Proparco

Solarise Africa has raised US$10-million from its existing investors known as Energy Access Ventures, ElectriFI and Proparco. Solarise Africa is a provider of lease finance products for the installation of solar photovoltaic systems on commercial and industrial companies in Kenya, South Africa and Rwanda (typically roof-top solar energy). The company was established in 2017 by Patrik Huber, Jan Albert Valk, Patrik Huber and Sakkie van Wijk and has strong industry partners such as Rubicon Renewables, Premier Solar Group and Sinetech. The additional funding will further expand operations to an estimated 150MW of solar energy to commercial and industrial companies.

Solarise Africa has secured additional funding from existing investors Energy Access Ventures, ElectriFI which is funded by the EU and Proparco which is a wholly owned subsidiary of the French Development Agency. Energy Access Ventures is an investor in next generation smart infrastructure companies in Sub-Saharan Africa with its €75-million fund. The fund has invested in SolarX, Manoc Energy, Mawingu, Zonful Energy, d.light, SunCulture and Paygo Energy among many others. The limited partners of the fund are CDC Group, FMO, European Investment Bank and Schneider Electric amongst others.

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