The impact financing group Social Investment Managers and Advisors (SIMA) has committed $1 million in funding to the global solar developer Renewvia Energy to bring more solar microgrids to rural Kenya.
With the new funding, Renewvia Energy plans to provide over 7,500 new East African individuals and local businesses with renewable electricity in the rural communities of Kagintan, Kori, Locheremoit, Lomekwi, Lorengelup and Nakukulas.
The planned solar energy microgrids are designed to help improve local livelihoods and encourage economic growth within the rural Kenyan communities of the underserved Turkana County.
Solar microgrids lower energy costs
With ongoing access to clean renewable energy, the solar microgrids will dramatically lower the current costs of electricity using the area’s conventional sources such as kerosene, diesel fuel, disposable batteries and biomass.
Officially, Renewvia will receive the financing from SIMA’s Off-Grid Solar and Financial Access Senior Debt Fund I, B.V.
Additionally, some of the SIMA funding will be used to further develop independent power generators on the islands of Ringiti and Ndeda in Lake Victoria, where Renewvia already operates a few solar microgrids.
This portion of the project is set to be completed by the end of this month, expanding the company’s reach to provide power for an additional 2,200 individuals and businesses. In total, Renewvia’s solar microgrids will supply electricity for 5,000 individuals and small businesses on the Kenyan islands.
Work by Renewvia in Africa
The company first began exploring African energy development in 2013, with the completion of its first two Kenyan microgrids in October 2018.
Last summer, Renewvia also launched three new solar minigrids in Kenya, serving the Kalobeyei Refugee Settlement, as well as the village of Ngurunit and the town of Kalobeyei.
The Atlanta, Georgia-based solar developer is also working with investor All On to develop reliable solar minigrids for over 40,000 households across the Federal Republic of Nigeria and neighboring Uganda.
In total, the company is positioned to build 43 solar-storage systems across underserved African communities.
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