- EDFI ElectriFI signs a $3.1 million loan for Redavia.
- The loans will expand Redavia’s expansion in Ghana and Kenya.
The Electrification Finance Initiative (EDFI ElectriFI) has partnered with German company Redavia. The European Union-funded facility is providing a new loan to the German company, which extends solar power plant leasing to commercial and industrial (C&I) customers. Redavia will use the $3.1 million loan to finance its expansion in Kenya and Ghana.
According to Quentin Antoine, Senior Investment Manager at EDFI Management Company, the financing “supports Redavia’s unique approach to the market with standardised solar farms and well-defined customer segments, enabling rapid growth in a market where competition has intensified in recent years.”
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).