Powergen

ElectriFI subscribed in 2019 to a USD 2 million investment to a capital increase of PowerGen, one of the leading electricity mini grid developers in East Africa. In 2025 ElectriFI continued it’s support by being a part of Series C and additional USD 5 million investment.

Project overview

Founded in 2011, PowerGen Renewable Energy is one of the leading solar power company active in East Africa. PowerGen aims at deploying a 120MW portfolio of renewable mini-/metro-grids and commercial and industrial (C&I) power solutions, inclusive of battery energy storage. EDFI ElectriFI provides a portion of the financing required to reach profitability and to serve the energy needs of more than 68,000 households and reduce the cost of power for 7,000 businesses. Increasing access to reliable and affordable electricity is expected to enhance business productivity, create indirect jobs, and drive economic growth.

Funding objective

After a first USD 2m equity investment in 2019, as part of Powergen Series B fundraising, ElectriFI continues supporting Powergen’s growth, being part of its Series C fundraising together with other investors. The round will fund operations over the next 3 years to grow scale and reach profitability while the company will deploy mini/metro-grids and C&I projects across different countries in sub-Saharan Africa.

Investment rationale

EDFI ElectriFI is supportive of PowerGen business model as it contributes to positive developmental impact as it enables reducing kerosene and diesel consumptions, while bringing high-quality, affordable and reliable electricity to ‘bottom of the pyramid’ households, while also having positive environmental and economic impacts.

Read more:

• Press release Series C
• Powergen