A Swedish-based impact investment platform, Trine is in partnership with Solarise Africa, a pan-African energy leasing company, to invest in renewable projects on the continent. The first debt financing cycle provided by Trine will finance five solar projects in South Africa and Kenya.
As demand for on-site renewable energy assets is growing rapidly, businesses are plagued with rising costs and a desire to improve the sustainability of their operations. However, constructing on-site microgrid assets requires a significant capital outlay, and building owners and operators have few other options today to take control of their energy.
The new venture, totalling €5m across multiple tranches, is set to improve investments in food security, renewable energy, urban development, manufacturing, and production in South Africa, Kenya, Ghana and Rwanda.
Trine chief executive and co-founder Sam Manaberi said: “We are very excited about this new partnership as we move into the commercial and industrial market.
“This presents a new offering for our investors as Solarise Africa works with a selected group of renewable energy solution companies and collaborates very closely with their partners to provide a range of tailor-made financial solutions for their customers.
“Their innovative financing solutions are very impressive, and we are glad to have them on board and look forward to following their continued success.”