The Electrification Finance Initiative (EDFI ElectriFI) is signing a new $3.1 million loan for Redavia. The German company will use the loan to provide solar power to businesses and industries in two African countries.
The partnership between the Electrification Finance Initiative (EDFI ElectriFI) and Redavia is growing stronger. The European Union (EU)-funded facility is providing a new loan to the German company, which offers solar power plant leasing to commercial and industrial (C&I) customers. Redavia will use the $3.1 million loan to finance its expansion in Kenya and Ghana, where it has had a strong presence for several years.
This financing “supports Redavia’s unique approach to the market with standardized solar farms and well-defined customer segments, enabling rapid growth in a market where competition has intensified in recent years,” said Quentin Antoine, Senior Investment Manager at EDFI Management Company, the manager of EDFI ElectriFI.