Solarise Africa - Afrikan Heroes

Solarise Africa Raises New $3M Funding From EDFI ElectriFI To Expand Operations In Kenya

December 23, 2022

Solarise Africa has received USD 3 million from EDFI ElectriFI to deliver bespoke financing solutions for decentralised energy solutions to selected commercial and industrial (C&I) customers across the continent in order to promote Africa’s access to sustainable energy.

Solarise Africa offers dependable and cost-effective renewable energy solutions to African businesses.

Geraldine Crosset, ElectriFI Senior Investment Officer at EDFI MC

“As an existing shareholder holding shares under the Series A and the Series B rounds, EDFI ElectriFI is proud to reinforce its partnership with Solarise Africa and to support the service platform to grow its assets portfolio in Kenya. We expect this investment to bridge the funding needs until the company closes its upcoming equity round,” explained Geraldine Crosset, ElectriFI Senior Investment Officer at EDFI MC.

“Solarise Africa appreciates the trust EDFI ElectriFi continues to place in us with this third investment. With the funds, we can further expand our team and hope to make solar energy a reality for more businesses and to help drive renewable energy adoption on the continent,“ added Jan-Albert Valk, Co-Founder and CEO, Solarise Africa.

While Solarise Africa has activities in Kenya, South Africa, Uganda, and Rwanda, the majority of its funding is directed to Kenya. Kenya’s ElectriFI Country Window is being developed in collaboration with EU Delegations and host governments. It significantly contributes to Kenya’s National Electrification Strategy using a Team Europe strategy. Solarise Africa’s only financial advisor on the deal was Viruni Capital Partners.

Kenya-based Solar Energy Company, Solarise Africa, Raises $10m Series B Funding To Expand Across Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Pan-African Solar Firm Solarise Africa Raises $33.4M In New Funding

November 28, 2022

Solarise Africa, a pan-African Energy-as-a-Service firm that offers dependable and economical energy solutions throughout Africa, has received $33.4 million to grow its portfolio in Kenya and other countries.

The round of funding was sponsored by the Facility for Energy Inclusion (FEI) and Oikocredit, a social impact investor and global cooperative with over 45 years of experience funding organisations working in financial inclusion, agribusiness, and renewable energy.

Jan Albert Valk, CEO and Co-Founder of Solarise Africa

Solarise offers decentralised energy solutions for African enterprises, as well as unique full-service solutions for designing, building, financing, and managing renewable energy installations.

“Throughout 2022, we dramatically expanded our footprint and portfolio, and with this additional loan, we will be able to rocket our efforts to increase renewable energy adoption in Africa,” stated Jan Albert Valk, CEO and Co-Founder of Solarise Africa. This demonstrates Solarise Africa’s sound business model. We are delighted to welcome these three distinguished new investors.

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Kenya-based Solar Energy Company, Solarise Africa, Raises $10m Series B Funding To Expand Across Africa

September 10, 2020

Nairobi-based, Africa-focused energy leasing company, Solarise Africa, has landed a further $10m investment to drive Africa’s clean energy expansion. The Series B investment round welcomed French development finance institution, Proparco, alongside existing investors, EAV and EDFI ElectriFI.

“Africa has been ready for clean energy expansion for the African SME sector, but financing has always been a significant hurdle. By addressing this critical value chain need we can help to fast-track green energy adoption,” said Jan-Albert Valk, CEO and co-founder of Solarise Africa. “We are proud to welcome Proparco as a new investor in Solarise and we are grateful for the support we have received by EAV as our anchor investor almost since our inception, and by the confidence our existing investors EAV and Electrifi have shown by this follow up investment.”

Here Is What You Need To Know

The company will use the investment to fund project deployments and further increase market share in current countries of operation and future expansions into Africa.
Solarise Africa currently has operations across Kenya, South Africa and Rwanda where it has deployed several projects and continues to develop an extensive pipeline across the continent.
The latest investment brings the startup’s total announced funding to $13.3 million.

Why The Investors Invested

“Solarise represents a compelling opportunity for Proparco in the off-grid sector. We are proud to support this innovative project as a first co-investment alongside a strong provider such as EAV. It should remarkably enable African SMEs to start their road towards greener energy through the provision of a decentralised renewable energy production solution,” said Johann Choux, Head of Equity Investments — Financial Institutions & VC, Proparco.

“Since EDFI ElectriFi’s first investment, Solarise Africa has successfully rolled out its business plan — strengthening its team, commissioning its first project and expanding its pipeline through additional partnerships. Only one year later, we are delighted to back the company with additional investment. We believe Solarise is excellently positioned to realise its ambitious plans,” said Dominiek Deconinck, CIO at EDFI Management Company.

A Look At What Solarise Does

Founded in 2017 by Jan Albert Valk, Patrik Huber, Sakkie Van Wijk, Solarise Africa works with a selected group of renewable energy solution companies and they collaborate very closely with their partners to provide a range of tailor-made financial solutions for their customers. They offer innovative leasing solutions that require minimal capital expenditure with short payback periods that companies save money. This enables companies to optimise their cost base and productivity, reduce dependability on an unstable power grid and adopt clean energy systems.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer