- Social impact investor and worldwide cooperative Oikocredit and the EU-funded Electrification Financing Initiative (EDFI ElectriFI) have agreed to co-invest US$ 4 million each in Canada-based Solar Panda.
With Oikocredit and EDFI ElectriFI’s financing, Solar Panda will grow its product offering, expand its footprint within Kenya (including into traditionally underserved counties) and set the stage for further expansion in Sub-Saharan Africa.
Since 2018, Solar Panda has provided more than 200,000 solar home systems across Kenya from its 37 retail branches, making it one of the fastest growing companies in the sector. It employs more than 300 staff in Kenya and has a network of over 1,000 independent sales agents.
Alexander Remy, Equity Officer at Oikocredit, said: “In a short period of time, Solar Panda has demonstrated its capabilities in designing and selling quality solar home systems needed by many households across Kenya. We are happy with the strong local talent they have assembled and are certain they can continue delivering positive results. As a shareholder in Solar Panda and an equity investor in renewable energy for social impact, Oikocredit will continue directing its efforts towards making clean energy accessible and improving the quality of life for underserved communities.”
Author: Bryan Groenendaal
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Congratulations we are Kenya Small Scale Farmers Forum KESSFF a registered grassroots village based membership network of Small Scale Farmers SSFs operating in 70%of the Republic of Kenya and part of a similar larger regional network for East Central and South African Countries ESAFF.
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