STATUS: Approved investment
Publication date: 16 November 2018
Region: Sub Saharan Africa
Country: Kenya and South Africa
Sector: Solar PV
Total ElectriFI financing: 1.75M
Environmental and Social Category: B
*(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
Brief description of the client and project
Solarise Africa is a greenfield company that provides tailor made finance or rental solutions for captive solar installations and other renewable energy and energy savings assets to selected commercial and industrial (‘C&I’) sectors (i.e. educational institutions, agro-foods processing, manufacturing, real estate, etc.) of the Kenyan and South African economies.
ElectriFI will invest USD 0.5mln equity and USD 1.25mln mezzanine loan. The proceeds will be used to build and finance a portfolio of 6 MW of captive solar PV systems in South Africa and Kenya.
Why ElectriFi wants to fund this project.
ElectriFI is supportive of Solarise business model as it supplements electricity from the national grid and diesel generator while bringing high-quality, stable, low cost, clean energy to C&I customers.
Environmental and social rationale: Which IFC PSs are triggered and the rationale behind it.
The Project is rated category B. Activities come with potential limited adverse risks associated with waste management and labour conditions.
IFC Performance Standards 1 to 4 might be triggered and addressed accordingly via EHS management plans.
The information as disclosed is indicative and provided on an “as-is/as available” basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of ElectriFI in its sole and absolute discretion.
In case of questions
This approved investment is online for 30 days. In case of questions, please contact firstname.lastname@example.org.