An $8 million funding by two European entities is about to supply photo voltaic electrical energy to greater than 100,000 households in northern and north jap Kenya.
EU growth finance establishment (Edfi) Electrifi this week introduced it had invested $4 million in shares in Canadian pay-as-you-go house photo voltaic firm Photo voltaic Panda.
The EU physique revealed Dutch affect investor Oikocredit had invested the identical sum within the firm, which has already provided greater than 200,000 off-grid photo voltaic house techniques in Kenya since 2018.
Edfi Electrifi stated the $8 million funding would see photo voltaic rolled out for greater than 100,000 new households and would additionally allow Photo voltaic Panda to finance “additional growth in sub-Saharan Africa.”
Photo voltaic Panda, which relies in Toronto and in addition manufactures the photo voltaic house techniques, stated the contemporary backing will guarantee it will definitely installs 8.4 MW of renewables era capability.
Quoted in a press launch issued by Edfi Electrifi this week, Andy Keith, founder and CEO of Photo voltaic Panda, stated: “I’m very happy with the expansion and success our group has been in a position to obtain over the previous 4 years and, with almost 1 billion individuals on the earth with out entry to electrical energy, we really feel we’re simply getting began.”