Oikocredit invests US$7 million in Solarise Africa to support affordable solar access for businesses in Africa
The investment will support Solarise Africa’s solar and energy efficiency solutions for small and medium enterprises and other commercial and industrial (C&I) businesses.
Oikocredit has partnered with Lion’s Head Group-managed funds, the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), to invest US$ 7 million in a US$ 33.4 million multi-currency loan facility to support Solarise Africa’s growing provision of affordable commercial and industrial solar installations in Africa.
With this investment Solarise Africa will offer more solar installations and energy efficiency solutions to small and medium enterprises (SMEs) and other businesses in multiple African countries, contributing to job creation, financial savings and CO2 reduction.
This deal continues Oikocredit’s commitment to C&I solar transactions, which are crucial in meeting global climate targets. The loan’s multi-currency structure matches Solarise’s multi-currency portfolio and gives the company the flexibility to meet market-specific financing demand.
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