Electricity giant Électricité de France (EDF) has teamed up with Mirova SunFunder investor to provide a $2.7 million credit facility to the Kenyan subsidiary of Distributed Power Africa (DPA). The company provides solar power to commercial and industrial (C&I) customers.
Good news for Distributed Power Africa (DPA) in Kenya. The Cassava Technologies subsidiary has a $2.7 million line of credit from Electricité de France (EDF) and Mirova SunFunder, an investment company based in Nairobi, Kenya. With this financing, DPA plans to accelerate the development of its project portfolio. In Kenya and other African countries, the company, led by Norman Moyo, finances, builds and operates solar photovoltaic plants for commercial and industrial (C&I) customers.
Mirova SunFunder contributed to the credit facility through its Solar Energy Transformation (SET) fund. “With this funding, we will see a remarkable uptake of renewable energy and an increase in business efficiency in Kenya,” says Norman Moyo.
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Specifically, DPA expects to be able to develop 3 MW of installed solar capacity in Kenya with the credit facility. The company is also active in South Africa, Zimbabwe, Ivory Coast, the Democratic Republic of Congo (DRC), and even Burundi where DPA has installed a 104 kWp solar PV plant to power the Econet Leo data centre in Bujumbura.
Recently, DPA entered into a partnership with the Zimbabwean subsidiary of the Indian company Varun Beverages. Under this agreement, DPA will install a 2.5 MWp rooftop solar power plant to power Varun Beverages’ Simon Mazorodze bottling plant in Harare. The plant fills PepsiCo branded soft drinks.
Jean Marie Takouleu