Solarise Africa, a pan-African energy leasing company, has secured a €5 million debt funding from Swedish-based impact investment platform Trine. The investment will be used to advance investments in food security, renewable energy, urban development, manufacturing, and production in South Africa, Kenya, Ghana, and Rwanda.
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 micro-grid assets require significant capital outlay and building owners and operators have few other options today to take control of their energy.
The first debt financing round provided by Trine will unlock the potential to meet the demand for renewable energy and will finance five solar projects in the regions of South Africa and Kenya.
“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.”, said Sam Manaberi, CEO and co-founder of Trine.
“Our first debt raise marks a milestone for the business”, said Jan Albert Valk, CEO and Co-Founder at Solarise Africa. “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.”
The partnership combines the expertise and capabilities of leaders in renewable energy and sustainability: Trine, an impact investment platform providing capital to accelerate investments in solar energy; Solarise Africa, a leading pan-African Energy-as-a-Service company.
