INTELLIGENT BRANDS // Green Technology

Looking to spread its footprint on the African continent , Solarise Africa : a renewable energy specialist has secured US $ 10-million in funding from a Series B investment . The company want to fund expansion plans in Kenya , Rwanda and South Africa .

According to the renewable energy company , the funding will be utilised to help the company advance its clean energy offerings in Kenya , South Africa and Rwanda .

In addition , the company stated that the latest move will further assist SMEs to maintain its operations with an affordable financial solution . Paras Patel , Partner , Energy Access Ventures said the expansion of Solarise Africa ’ s offering will provide added value to a greener society across the continent .

“ We are excited to continue to support the Solarise team as they grow their geographical footprint and impact across Africa . The team has continued to demonstrate their bankability with successful deployments within a short period , strategic market expansion , pipeline development and agility in handling the COVID-19 crisis ,” Patel said .

In addition , the investment will be used to fund project deployments and further increase market share in current countries of operation and future expansions into Africa .

Johann Choux , Head of Equity Investments – Financial Institutions and VC , Proparco , explained that the expansion will help SMEs utilise greener energy . “ Solarise represents a compelling opportunity for Proparco in the off-grid sector . We are proud to support this innovative project as a first co-investment alongside a strong provider such as EAV . It should remarkably enable African SMEs to start their road towards greener energy through the provision of a decentralised renewable energy production solution ,” said Choux

With South Africa ’ s main electricity provider , Eskom , implementing load shedding , the domino effect that it has had on businesses has crippled their operations and overall revenue .

Solarise Africa provides innovative financing solutions to industrial and commercial companies . Offering SMEs and larger businesses a source of renewable energy payable through instalment payments and short payback periods can assist businesses to maintain their operations .

Working with a selected group of renewable energy solution companies , Solarise Africa is able to provide tailor-made financial solutions to SMEs and larger businesses .

This , stated Solarise Africa , enables companies to optimise their cost base and productivity , reduce dependability on an unstable power grid , and adopt clean energy systems .

Jan-Albert Valk , CEO and Co-Founder , Solarise Africa reiterated the importance of integrating clean and renewable energy within African businesses . “ Africa has been ready for clean energy expansion for the African SME sector , but financing has always been a significant hurdle . By addressing this critical value chain need , we can help to fasttrack green energy adoption .” •

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