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To grow, Kenyan energy firm Solarise Africa nets $5.9 M debt financing

Solarise Africa, founded by Patrik Huber, Jan Albert Valk, and Sakkie van Wijk, is an energy leasing firm that focuses on commercial and industrial clients for solar and other energy assets (C&I).

Last year, the firm received a US$10 million Series B fundraising round through a limited group of partners, and it has now added EUR5 million in loans from Trine, an investment service designed particularly to give debt capital to creative solar-focused enterprises in emerging economies.

The money will support investments in food security, renewable energy, urban development, manufacturing, and production in South Africa, Kenya, Ghana, and Rwanda, and will be disbursed in numerous tranches. Five solar projects in South Africa and Kenya will be funded with the initial disbursement.

“Our first debt raises marks a milestone for the business”, said Valk, Solarise’s chief executive officer (CEO). “We are deeply honoured by Trine’s and its investors’ confidence. These funds will be used to deploy projects and expand market share in current operational countries. At the moment, Solarise Africa has operations in Kenya, South Africa, Rwanda, Uganda, and Ghana where several projects have been deployed, and our pipeline continues to expand quickly. We are excited to make our Energy-as-a-Service offering available to more partners so that we can actively drive Africa’s progress together.”

Trine’s CEO and co-founder, Sam Manaberi, expressed enthusiasm for the new relationship as his firm expanded into the commercial and industrial industry.

“This presents a new offering for our investors as Solarise Africa works with a selected group of renewable energy solution companies and collaborates very closely with their partners to provide a range of tailor-made financial solutions for their customers. Their innovative financing solutions are very impressive and we are glad to have them onboard and look forward to following their continued success,” Manaberi said.

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