Renewvia plans $350mln off-grid platform for Africa

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Renewvia Energy is planning to establish a holding company to consolidate its off-grid solar holdings in Africa and raise up to $350 million in equity and debt in pursuit of its aim to install a thousand off-grid solar power systems in Kenya and Nigeria over the next five years.

To date, the Atlanta, USA-headquartered company has financed each of its projects on the continent individually, but in establishing Renewvia Energy Africa Holding, (or REAH), the company hopes to improve its position in a market that it feels is ripe with opportunity. In creating operational and financial scale, REAH will be able to out-compete the smaller players in the market, many of which are unable to secure reliable financing.

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