Swedish investor Trine has announced an investment of Euro 5 million in Solarise Africa, a South African commercial solar leasing firm. The first round of debt financing, amounting to Euro 800,000 will finance five solar projects in the regions of Nairobi and Lake Victoria (Kenya) and in Johannesburg and Polokwane (South Africa). The projects will have a total capacity of 2.5 MW, with a 1.8 MW system to be installed in addition to four 700 kW arrays.
The investment is expected to enable project deployment and market share expansion in countries where Solarise Africa is currently operational. These include Kenya, South Africa, Rwanda, Uganda and Ghana, where several projects have been deployed. Solar systems can be expected to be installed in Ghana and Rwanda from 2022.
Gothenburg-based Trine is a crowdfunding community where small-scale investors can invest in social impact solar energy projects. It offers the chance to invest in solar projects with stakes of as little as Euro 25. The investor finances local solar entrepreneurs to electrify the developing world.
Solarise Africa is a pan-African energy leasing company. It provides smart financing solutions for various renewable energy technologies across Africa. The company specialises in captive rooftop and ground-mounted solar projects ranging from 50 kW to 3 MW. In 2020, Solarise raised Euro 6.5 million, as part of a fund-raising exercise to finance its expansion in Africa.
