Swedish Fund Finances Five African Solar Projects – EQ Mag Pro
Trine joins forces with Solarise Africa to support schemes in South Africa and Kenya.
Swedish-based impact investment platform Trine is collaborating with Solarise Africa, a pan-African energy leasing company, to invest in renewable projects on the continent.
The first debt financing round provided by Trine will finance five solar projects in South Africa and Kenya.
Demand for on-site renewable energy assets is growing rapidly as businesses are faced with rising energy costs and a desire to improve the sustainability of their operations.
Building on-site microgrid assets requires significant capital outlay and building owners and operators have few other options today to take control of their energy.
The new venture, totalling €5m across multiple tranches, is set to advance investments in food security, renewable energy, urban development, and manufacturing and production in South Africa, Kenya, Ghana and Rwanda.
Trine chief executive and co-founder Sam Manaberi said: “We are very excited about this new partnership as we move into the commercial and industrial market.
“This presents a new offering for our investors as Solarise Africa works with a selected group of renewable energy solution companies and collaborates very closely with their partners to provide a range of tailor-made financial solutions for their customers.
“Their innovative financing solutions are very impressive and we are glad to have them onboard and look forward to following their continued success.”
Solarise Africa chief executive and co-founder Jan Albert Valk added: “Our first debt raise marks a milestone for the business.
“We are deeply honored by Trine’s and its investors’ confidence.
“These funds will be used to deploy projects and expand market share in current operational countries.
“At the moment, Solarise Africa has operations in Kenya, South Africa, Rwanda, Uganda, and Ghana where several projects have been deployed, and our pipeline continues to expand quickly.
“We are excited to make our Energy-as-a-Service offering available to more partners so that we can actively drive Africa’s progress together.”
Source: renews
