M a r k e t N e w s

GHANA/KENYA: EDFI Lends USD3 Million to Redavia to Solarize Businesses

Posted on : Friday , 20th May 2022

The Electrification Finance Initiative (EDFI ElectriFI) is signing a new US$ 3.1 million loan for Redavia. The German company will use the loan to provide solar power to businesses and industries in 2 African countries.

 

The partnership between the Electrification Finance Initiative (EDFI ElectriFI) and Redavia is growing stronger. The European Union (EU)-funded facility is providing a new loan to the German company, which offers solar power plant leasing to commercial and industrial (C&I) customers. Redavia will use the US$ 3.1 million loan to finance its expansion in Kenya and Ghana, where it has had a strong presence for several years.

 

This financing “supports Redavia’s unique approach to the market with standardized solar farms and well-defined customer segments, enabling rapid growth in a market where competition has intensified in recent years,” said Quentin Antoine, Senior Investment Manager at EDFI Management Company, the manager of EDFI ElectriFI.

 

Expansion in 2 Countries

 

In recent years, Redavia has strengthened its operations in sub-Saharan Africa, mainly in Ghana and Kenya, where it has local subsidiaries. The company led by Erwin Spolders has been able to count on the support of several financial partners, including the Swiss impact investor AlphaMundi, the Energy and Environment Partnership Trust Fund (EEP Africa) or the Nordic Development Fund (NDF).

 

In year 2018, the Munich, Germany-based company secured an initial US$2 million loan from EDFI ElectriFI for its expansion in Africa. This funding “has enabled Redavia to make great strides towards its goal of operating 100 MWp of solar panels in small and medium-sized enterprises (SMEs) in industrializing African economies to create local wealth and jobs in a sustainable way,” says Erwin Spolders.

 

Currently, the solar photovoltaic provider has an installed solar capacity of 7.4 MWp that benefits nearly 29,000 people. According to EDFI ElectriFI, for the period 2018-2022, in Ghana alone, Redavia has commissioned 3.4 MWp of solar capacity serving 41 C&I customers for an annual production of 3,176 MWh per year, helping to avoid the equivalent of 4,129 tons of CO2 per year.

Source : www.abafnz.com
Featured Companies
  • dubaiexporters.com

Complete List  

Advertisers in previous issue:

  • Save your power bill by instaling servo voltage stabilizer.
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  • Producing numerous types of welding consumables and welding machines for both the domestic and international market
  • Automatic brick manufacturing machines
  • GM Electricals is a competitive wholeseller of broad range of electrical materials and equipments
  • Lavorwash is a world-leader in manufacturing high pressure cleaners and vacuum cleaners for household and professional use.
  • The trusted source for all your heavy  equipment needs!
  • Used Machinery
  • Worthington Products is the Worlds most trusted name when it comes to providing quality waterway barriers for Debris Control, Dam Safety, Ice-Booms, Fish Guidance
  • IAC understand your system requirements, and can offer valuable input, be it design, consulting, training, or technical support.
  • Speco Ltd. is the leading manufacturer & supplier of Asphalt Mixing Plant, Concrete Batching Plant, Crushing Plant & Optimized Integrated Flue Gas Treatment System.
  • Air Conditioning Hire
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  • Manufacturer of heavy duty machinery
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • YorPower Kenya was established in 2002. From our headquarters in Nairobi we sell Diesel Generators manufactured by our parent company,
  • Catering for the most varied industrial storage requirements.
  • KJV is a professionally managed group in distribution & transmission sector involved in executing contracts
  • Bakery Equipment, Flour Mill, Bread Improver, Dried Fruit Processing machine
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Luminous Power Technologies Limited is a leading company with a differentiated portfolio of solutions for packaged power, diversified generation, electrical control & safety and energy optimization.
  •  Magazine for Africa
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  • Sonmez Makina Ltd. is a manufacturer and exporter company for filling systems of domestic use LPG cylinders.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade