- 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
Off-Grid East African Company SolarNow Raises $9 Million From Oikocredit, responsAbility & SunFunder To Deploy Solar Systems In Uganda; India’s Oakridge Energy Raises Line Of Credit From Oikocredit’s Indian Subsidiary
(14. January 2019)
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.