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Pan-African solar company Solarise Africa raises $33.4M

November 28, 2022

Solarise Africa, a pan-African Energy-as-a-Service company that provides reliable and affordable energy solutions across Africa has raised $33.4M to expand its portfolio in Kenya and other countries.

The funding round was led by Facility for Energy Inclusion(FEI) and Oikocredit, a social impact investor and worldwide cooperative with over 45 years of experience funding organizations active in financial inclusion, agriculture and renewable energy.

Solarise provides decentralized energy solutions for African businesses, providing innovative full-service solutions cutting across cover designing, building, financing, and maintaining renewable energy installations.

Jan Albert Valk, CEO and Co-Founder of Solarise Africa said, “Throughout 2022, we have significantly grown our footprint and portfolio, and with this new loan, we will be able to catapult our efforts to advance renewable energy adoption in Africa. This proves that Solarise Africa has a solid business model. We are proud to welcome these three prestigious new investors.

The continent hosts several energy solution providers, leveraging the availability of renewable energy models for their businesses. Solarise recently finished installations at the Volvo Trucks manufacturing plant in Durban, South Africa, marking one of its most significant milestones. The 243 kWp solar facility, built in collaboration with SEM Solutions, consisted of 440 solar panels, two solar inverters, and 125 meters of permanent safety lines on 470 meters of walkways.