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Renewvia Energy Africa aims to raise $350m to install 1,000 solar systems

Christian Fernsby |
The American company Renewvia has just launched Renewvia Energy Africa, a branch specializing in solar offgrid.

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The organization has also set itself the objective of raising $350 million in funding in five years for the development of its activities.

“Our goal is to install 1,000 offgrid solar systems over the next five years in Nigeria and Kenya.

To achieve this, the company is implementing an aggressive strategy that also involves the capital markets: in five years, we hope to raise $ 350 million in the form of debt and equity, ” said Trey Jarrard, Executive Director of Renewvia.

The company has so far adopted a case-by-case funding strategy for its projects, but now plans to consolidate its activities on the continent.

According to its director, a fundraising of $ 5 to 10 million is already underway in order to trigger this growth cycle.

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