Trine, a Swedish impact investing platform, has reportedly announced that it has teamed up with pan-African energy leasing firm, Solarise Africa, to invest in five renewable energy projects across the African continent.
According to reliable sources, the round of debt financing by Trine, which is the company’s first, would fund five solar energy projects in Kenya and South Africa.
As businesses are focusing on strengthening the sustainability of their operational activities and facing rapidly rising energy costs, the demand for on-site renewable energy assets is increasing at a fast pace.
Building on-site microgrid assets needs a considerable amount of investment, and today building owners and operators only have a limited number of options to take effective control of their respective energy.
The new company, which is set to spend a total of €5 million in various tranches, is expected to foster investments towards renewable energy, food security, urban development, and production & manufacturing across Kenya, South Africa, Rwanda, and Ghana.
Sam Manaberi, Trine's co-founder and CEO, stated, that the firm is extremely thrilled about the new partnership with Solarise Africa as it moves into the industrial and commercial market.
Solarise Africa works with a limited set of renewable energy solution businesses and interacts closely with its partners to deliver an array of tailored financial solutions for their clients, which provides a fresh option for Trine’s investors. Manaberi added.
Manaberi also stated that Solarise's creative finance options are quite remarkable, and Trine is pleased to have Solarise Africa on board and looks forward to their continuing success.
Jan Albert Valk, chief executive and co-founder of Solarise Africa, stated that Solarise's first debt raising marks a new milestone for the firm. Solarise sincerely appreciates Trine's and its investors' trust in the firm.
Valk added that these investments will be utilized to deploy projects and increase market share in existing operating nations. Solarise Africa now has operations in South Africa, Rwanda, Kenya, Ghana, and Uganda, where numerous projects have been implemented, and the company’s pipeline is rapidly expanding.
Valk went on and stated that Solarise is also thrilled to make its Energy-as-a-Service (EaaS) offering available to additional partners so that the two firms may jointly drive Africa's growth.