Solarise Africa, a Kenyan energy provider, has received an additional US$3 million from EDFI ElectriFI to help select commercial and industrial (C&I) customers throughout the continent with specific financing options for decentralized energy solutions.
In addition to raising US$33.4 million in debt investment just last month, the company that provides smart financing via a select group of partners has also secured US$3 million from prior investor EDFI ElectriFI.
Patrik Huber, Jan Albert Valk, and Sakkie van Wijk founded Solarise Africa, a company that specializes in leasing solar and other energy assets for businesses and industries (C&I).
“EDFI ElectriFI is pleased to strengthen its cooperation with Solarise Africa and to support the service platform in growing its asset portfolio in Kenya. EDFI ElectriFI is a current shareholder holding shares under the Series A and the Series B rounds. According to Geraldine Crosset, a senior investment officer of EDFI MC and an electriFI representative, “We anticipate that this investment will serve as a funding bridge until the company completes its future equity round.
“Solarise Africa is grateful for the continued faith EDFI ElectriFI has in us with this third investment. With the money, we can grow our staff even further and strive to make solar energy a reality for more companies while also promoting the use of renewable energy across the continent, according to Valk.
Although Solarise Africa operates in several African countries including Kenya, South Africa, Uganda, and Rwanda, this funding will primarily be used in Kenya.