The solar energy company Redavia Ghana, a local subsidiary of the German firm Redavia, has obtained a $4 million loan from the Swiss fund manager, responsAbility Investments. The funding is for the design of independent solar systems, which will then be leased to companies and communities in Ghana.
Redavia will further develop its activities in Ghana. On October 10, 2018, the local subsidiary of the German solar giant obtained loan financing of approximately $4 million. The support of the responsAbility fund manager will contribute to the creation of an innovative and unique platform. Combining efficient use of funds and scaleability for other potential financial partners, the “Financing Africa’s Industrialisation Platform”, as it is defined, offers tailor-made solar solutions.
Through the platform, Redavia Ghana will build solar parks for the country’s industries, commercial companies, and non-electrified communities. “Ghana remains a very promising market for us. We are delighted with the trust responsAbility has placed on us. This partnership will allow us to expand our activities in the country more quickly, offering Ghanaian companies solar energy at lower cost and with limited environmental impacts,” said Erwin Spolders, founder and CEO of Redavia.
Present in East and West Africa, Redavia offers solar energy for rental to companies and communities. Its system is based on a pre-configured container model, including high-performance solar modules and high-quality electrical components. It is easy to transport, configure, resize and redeploy. Companies and communities benefit from a clean, cost-effective energy solution without prior investment or technical skills to acquire, which contributes to reducing carbon emissions and increasing the impact for a sustainable society.
ResponsAbility increases its investments in the sustainable economy in Africa
The loan to Redavia comes just months after the launch in June 2018 of a private debt fund for sustainable agriculture in developing countries, particularly in sub-Saharan Africa. By providing farmers with access to capital and efficient supply chains, the new fund, proposed by responsAbility, promotes environmentally friendly farming practices. It stimulates local economic growth and contributes to improving rural livelihoods. The objective is twofold: to generate economic success and achieve development impact in line with the United Nations’ sustainable development goals (SDGs).
In addition, in 2014 in Nairobi, Kenya, responsAbility founded a joint venture with the German development bank KfW called responsAbility Renewable Energy Holding (rAREH) to develop, build, own and operate small biomass or hydroelectric power plants in order to take advantage of the economic potential of renewable energy in African countries.
responsAbility Investments was founded in 2003 in Zurich, Switzerland, and is one of the leading asset managers in the field of development investments. It has more than $3 billion in assets under management and invests in 540 companies in 90 countries. It has offices in Bangkok, Geneva, Hong Kong, Lima, Luxembourg, Mumbai, Nairobi, Oslo and Paris. Among its shareholders are several renowned institutions on the Swiss financial market and its own employees.