Distributed Power Africa (DPA) Kenya Limited has secured Sh332 million from Mirova SunFunder to deploy solar energy solutions to commercial and Industrial (C&I) customers in Kenya.
The local energy firm focuses on renewable energy solutions majorly dealing in solar options has operations in Kenya, South Africa, and Zimbabwe.
Through the funding, DPA will be able to unlock additional solar energy solutions for their customers in the C&I sector. DPA aims to deploy more solar sites in Kenya utilizing this financing.
As stated by Mirova SunFunder’s senior investment officer Jemimah Kwakye-Fosu, due to the climate change crisis that has been a global concern, there is an urgency to embark on renewable energy, especially solar energy.
“We believe this facility will enable DPA to execute on their growing pipeline, “Jemimah said.
DPA CEO Norman Moyo stated that the partnership is of mutual benefit with citizens set to benefit majorly as there will be a scaling up of renewable energy access in Kenya. Adding that energy is a key pillar in supporting Africa’s economic development and digital transformation.
Cassava Technologies CEO and group president Hardy Pemhiwa commented on the deal as one that will boost energy provision.
“This will ensure that C&I businesses in Kenya can adopt hybrid solar energy and lithium battery technology for energy resilience, increased business efficiencies, and reduced carbon footprints,” Pemhiwa said.
This support and partnerships seek to accelerate the adoption of renewable energy amongst the people and climate solutions in Sub-Saharan Africa and other emerging markets. As Mirova SunFunder is also working on a new $500 million fund called the Gigaton Fund.
“Mirova SunFunder’s local presence and financial expertise are combined with the extensive customer pipeline of a company like DPA, as we seek to scale cost-effective solar energy solutions,” said Mirova SunFunder’s co-founder and COO Audrey Desiderato.
As the journey for renewable energy is embarked on, access by the people has risen concerns in matters like the cost-effectiveness of solar energy solutions.
