KENYA: Three Solar Energy Providers Get CCISA Funding

Posted on : Wednesday, 16th February 2022

In Kenya, 3 suppliers of solar energy for productive use will be supported by the Clean Captive Installations for Industrial Clients in Sub-Sahara Africa (CCISA) program. This initiative is implemented by the United Nations Environment Programme (UNEP) to provide clean energy to industrial and commercial (C&I) customers.

 

As in most African countries, solar energy is gaining momentum in Kenya. The United Nations Environment Programme (UNEP) intends to rely on this clean source to provide electricity to local businesses. It is in this context that the organization has launched a challenge in connection with its Clean Captive Installations for Industrial Clients in Sub-Sahara Africa (CCISA) program. The program has selected 3 companies specializing in solar energy for productive use.

 

This is the case of the German company Ecoligo, whose Kenyan subsidiary has committed to set up a special purpose vehicle (SPV) that will finance a portfolio of projects for industrial and commercial clients (C&I). In return, the company will receive a grant from the program (CCISA). Ecoligo’s SPV will be financed through both crowdfunding and secured institutional lenders. The company led by Martin Baart plans to develop medium-sized solar projects (between 500 kWp and 2 MWp), which are typically too small for institutional investors, but too large for individual investors.