Renewvia Energy receives $1 million commitment to electrify communities with solar power in rural Kenya
Post date: 04/06/2021 - 10:04
Social Investment Managers and Advisors LLC (SIMA) and solar developer Renewvia Energy Corporatio announced a partnership to electrify rural communities in Kenya underserved by conventional utilities. The agreement includes a commitment of $1 million from the SIMA Off Grid Solar and Financial Access Senior Debt Fund I, B.V. to enable Renewvia to expand energy access on the islands of Ringiti and Ndeda, where it currently owns and operates two solar minigrids, and to contribute to the development of new solar minigrids in five communities in Turkana County, Kenya.
According to the company, Renewvia will develop and operate solar minigrids in the communities of Lomekwi, Nakukulas, Locheremoit, Kagintan, Kori, and Lorengelup by the end of 2021. These minigrids will provide affordable energy to more than 7,500 individuals and multiple small- and medium-businesses.
On the islands of Ringiti and Ndeda, located in Lake Victoria, financing from SIMA will help expand energy access to an additional 2,200 individuals and small businesses where Renewvia has been providing affordable and clean energy for the last two years. Renewvia plans to complete this work by June, ultimately reaching a total of 5,000 people and small businesses on the islands.
Renewvia Energy Corporation is headquartered in Atlanta, Georgia, USA. It designs, installs, owns and operates commercial and community solar power systems across three continents and provides a complete range of solar energy solutions including turnkey solar installation, integrated financing and solar consulting services. Established in 2015, SIMA is investing in emerging markets in South Asia and Sub-Saharan Africa. SIMA is committed to help early-stage companies in some of the poorest regions of the world. SIMA has a presence in Kenya, Uganda, Pakistan, India, Mexico and the United States.