Trine invests $5.9 million in Solarise Africa

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Gothenburg-based Impact Investment platform Trine confirms a $5.9 million into Solarise Africa which will be carried out in several phases. The funds will be injected through a bet financing model unlocking the potential to meet the demand for renewable energy while financing five solar projects across South Africa and Kenya. In addition to the investments in the two markets, further investment will provide solar energy to commercial and industrial customers in Ghana and Rwanda.

The Swedish company attributes on-site renewable energy assets demand to the rising energy costs and need to improve the sustainability of operations. Jan Albert Valk, Solarise CEO and Co-founder attribute Trine’s investment to “project deployment and market share expansion”. Solarise currently has a presence in South Africa, Uganda, Rwanda, Kenya, and Ghana.

Solarise Africa is based in Johannesburg and offers both financing and installation of solar photovoltaic systems. Companies benefiting from this clean energy pay a single electricity bill monthly. In 2020 the company previously raised $7.6 million to expand its offering as a part fundraising exercise where Proparco and  EDFI ElectriFI participated.

Source: Afrik21

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