Redavia Subsidiary Gets $4mn For Modules PV Farms

Ghanian Subsidiary Of Germany’s Redavia Secures $4 Million Financing From ResponsAbility To Provide Clean Power To Ghana’s Commercial & Industrial Segment With Modular Solar Farms
07:28 AM (Beijing Time) - 12. October 2018
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Key Takeaways

  • Redavia’s Ghana based subsidiary has raised $4 million as financing from asset manager, responsAbility of Switzerland
  • It will help the company target commercial and industrial sector in Ghana procure clean solar power through its modular solar farms
  • The funding has come from responsAbility’s climate fund, Industrializing Africa Solar Funding Platform debt facility

Redavia, a Germany based rental solar power company operating in Sub-Saharan Africa, has secured $4 million financing for its Ghana based subsidiary that provides clean power to the country’s industrial and commercial sector through modular solar farms.

These farms are like a plug and play system, easy to ship, set up, scale and redeploy, with flexible lease agreements. Redavia says these farms can easily be integrated into existing electricity supply for these businesses.

The financing comes from Zurich based asset manager responsAbility Investments AG, focused on providing debt and equity financing primarily to non-listed firms in emerging and developing economies. The $4 million financing is part of its climate fund, Industrializing Africa Solar Funding Platform debt facility, which will work as a scalable facility for other potential funding partners.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani