Redavia Secures $2mn For Ghana Expansion

European Commission & Power Africa Backed ElectriFI Helps Germany’s Redavia With $2 Million To Deploy Around 15 MW Modular Solar Farm Capacity In Ghana
05:50 AM (Beijing Time) - 14. January 2019
Picture1

Redavia's modular solar farms (like the one in the picture) in Ghana come with flexible lease agreements and can be integrated with existing electricity supply infrastructure of a business or community. The $2 million in financing it received from ElectriFI will be used to expand its presence in Ghana. (Photo Credit: Redavia GmbH)

Key Takeaways

  • Redavia has raised $2 million from ElectriFI to expand its presence in Ghana’s industrial and commercial solar segment
  • It will use the proceeds to deploy around 15 MW of solar PV assets for educational institutions, agro-foods processing and manufacturing companies
  • This financing agreement comes after it raised $4 million from responsAbility in October 2018 for Ghana operations

Redavia, a Germany based rental solar power company operating in West and East Africa,  has secured $2 million in financing from the Electrification Financing Initiative (ElectriFI), an impact investment facility for on- and off-grid early stage private companies and projects. ElectriFI has the European Commission and Power Africa as its core investors.

The German company plans to expand its presence in Ghana’s industrial and commercial solar segment with the ElectriFI money to deploy around 15 MW of PV assets. The modular solar farms it will deploy with this financing will be for educational institutions, agro-foods processing and manufacturing companies.

The modular solar farms with flexible lease agreements of Redavia in Ghana are pre-configured and set up using high performance solar modules and electrical components, which the company says are easy to ship, set up, scale and redeploy. Such a farm can also be integrated with existing electricity supply infrastructure of a business or community, it claims.

In October 2018, Redavia raised $4 million from responsAbility to provide clean power to Ghana’s commercial and industrial segment (see Redavia Subsidiary Gets $4mn For Modular PV Farms).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

Write, follow the author.
Email

Anu Bhambhani