Africa Energy Indaba

German Solar Company Gets US 2 Million to Invest In Ghana

  • German Solar Company REDAVIA has secured $2 million debt financing from ElectriFI to be invested in Ghana.
  • The deal forms part of the recently signed $4 million innovative debt financing deal from responsAbility Investments AG.
  • responsAbility Investments AG targets the local business community including agro-foods processing, manufacturing, public infrastructure, as well as hospitality and real estate companies.

German-based solar company, REDAVIA, with subsidiaries across Africa, is set to expand the leasing of solar assets in Ghana. The solar company has secured $2 million debt financing from ElectriFI to be invested in Ghana in conjunction with the recently signed $4 million innovative debt financing deal from responsAbility Investments AG.

The Electrification Financing Initiative (ElectriFI) is a flexible financial facility funded by the European Commission and managed by the Association of European Development Finance Institutions (EDFI). responsAbility Investments AG targets the local business community including agro-foods processing, manufacturing, public infrastructure, as well as hospitality and real estate companies.

Dominiek Deconinck, ElectriFI Fund Manager, declared: “We are delighted to partner with REDAVIA to bring reliable, affordable and clean electricity to the local business community in Ghana. REDAVIA’s solar farms and lease arrangements show high flexibility and levels of performance. We are thrilled to be part of the journey.”

“The investment will bring around 15 MWp of solar PV assets to commercial and industrial off-takers such as educational institutions, agro-foods and manufacturing companies in Ghana,” elaborated Quentin Antoine, Senior Investment Officer, ElectriFI.

“We are very proud of our footprint in Ghana so far and the benefits that we are able to deliver to our customers,” stated Erwin Spolders, CEO and Founder, REDAVIA. “ElectriFI’s funding will be a stepping stone towards the international expansion of our successful delivery model in Ghana,” Spolders added.

Author: GBA News Desk/ESI-Africa Contributor

This article was originally published on ESI Africa and is republished with permission with minor editorial changes.

 

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