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Renewvia is set to construct solar mini-grids for Kenyan rural communities.
- SIMA is providing the financing for the projects.
- SIMA is also funding a project that will increase energy access to individuals inhabiting islands located on Lake Victoria.
American solar company Renewvia Energy Corporation says that it has received a US$1 million (€820,400) commitment from impact investor Social Investment Managers and Advisors LLC (SIMA) to construct solar mini-grids for rural communities in Kenya. SIMA provided the financing through the itsvOff-Grid Solar and Financial Access Senior Debt Fund I, B.V.
Renewvia will develop and operate solar mini-grids in the Turkana County communities of Lomekwi, Nakukulas, Locheremoit, Kagintan Kori, and Lorengelup. The mini-grid systems are expected to be completed by the end of the year and will provide reliable electricity access for over 7,500 people.
SIMA is also funding another project that will see Renewvia expand energy access in the islands of Ringiti and Ndeda (on lake Victoria), where the company already owns and operates two solar mini-grid systems. Renewvia plans to increase energy provision to about 2,200 people and small businesses by June.
Trey Jarrard, Renewvia Energy CEO, noted that they are thrilled to partner with SIMA, especially as Renewvia is actively scaling its portfolio in Kenya and Nigeria to advance energy access to remote areas.
Asad Mahmood, CEO and Managing Partner at SIMA, stated that SIMA is committed to investing in the African off-grid solar sector and bringing solar solutions to communities to enable economic growth, reduce carbon emissions and improve environmental sustainability.”