Solarise Africa, an energy leasing company based in Kenya, has secured $33.4 million in debt funding.
A significant portion of the round’s total funding—$21.4 million—will come from the Facility for Energy Inclusion (FEI), which served as the round’s main investor.
The AfricaGoGreen Fund, which is managed by Lion’s Head, is also contributing $5 million to the project, and Oikocredit is chipping in $7 million.
Solarise Africa is an energy leasing business for solar and other energy assets with an emphasis on commercial and industrial customers. It was founded by Patrik Huber, Jan Albert Valk, and Sakkie van Wijk (C&I).
“We are deeply honored and appreciative of the investors’ faith in us. This demonstrates that Solarise Africa has a sound business model because it is the largest debt raise in the C&I industry in Africa to date. We are honored to welcome these three esteemed new investors to our present group of investors: Lead arranger FEI, Oikocredit, and AfricaGoGreen. We have greatly expanded both our reach and portfolio over the course of 2022, and with the help of this additional financing, we will be able to accelerate our efforts to promote the use of renewable energy in Africa, added Valk.
With this new round of finance, Solarise Africa will be able to increase its services offered in Kenya and a few other nations across Africa.