Distributed Power Africa secures Ksh 332M to expand solar energy solutions
Distributed Power Africa (DPA) Kenya is set to extend deployment of solar
energy solutions to commercial and industrial customers in Kenya after securing
Ksh 332 million funding from Mirova SunFunder.
DPA Chief Executive Officer Norman Moyo said the funding will also help the renewable energy distributor deploy additional solar sites in Kenya.
"We are excited to partner with Mirova SunFunder in scaling up renewable energy access for the commercial and industrial sector in Kenya. We believe energy is a key pillar in supporting Africa’s economic development and digital transformation. With this investment, we expect to see increased uptake of renewable energy by enterprises in Kenya,” said Moyo.
Impact investor, Mirova SunFunder which helps in solving energy access and climate change challenges in frontier markets in Africa through clean energy financing said the funding marked another milestone in expanding the provision of funding in the Kenyan market through their Solar Energy Transformation (SET) Fund, which has been fully deployed.
Mirova SunFunder Co-founder and Chief Operations Officer Audrey Desiderato further said the firm is further working on a new Ksh 60 billion ($500 million) fund dubbed the Gigaton Fund.
"Mirova SunFunder's local presence and financial expertise combined with the extensive customer pipeline of a leading pan-African company like DPA, will accelerate the scaling of cost-effective solar energy solutions to businesses in Kenya,” said Desiderato.
DPA currently develops and operates renewable energy projects across Africa with a key focus on Kenya, South Africa, and Zimbabwe.
The firm also provides renewable energy solutions to data centres, telecom switching centres, telecom towers, manufacturing plants, hospitals, and other large industrial users.