Members area

Redavia

Period

2018

Country

Ghana, Kenya

Sector

Renewable energy

Financial facility

ElectriFI

ElectriFI contracted a USD 2 million senior debt to support REDAVIA C&I solar rental expansion in Ghana in December 2018 and additional USD 3.1 m in April 2022 to support REDAVIA C&I solar rental expansion in Ghana and Kenya.

Project overview

ElectriFI contracted a USD 2 million senior debt to support REDAVIA C&I solar rental expansion in Ghana.

REDAVIA offers rental solar power for businesses and communities – with a regional focus on East and West Africa. The REDAVIA system is based on a preconfigured container model, including high-performance solar modules and high-quality electrical components. It is easy to ship, set up, scale and redeploy. Businesses and communities benefit from a cost-effective clean energy solution without the need for upfront investment or technical skills, supporting the reduction of carbon emissions and increasing the impact on a sustainable society. After a first USD 2 million investment in REDAVIA in 2018, EDFI ElectriFI committed USD 3.1 million to support REDAVIA C&I solar rental expansion in Ghana and Kenya.

First investment:

  • Contract signature date: December 2018
  • Total ElectriFI financing: USD 2 m
  • Status: exited

Follow on investment:

  • Contract signature date: April 2022
  • Countries: Ghana and Kenya
  • Total ElectriFI financing: USD 3.1m (Kenya Country Window USD2m and global  USD1.1m)
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Funding objective

EDFI ElectriFI supports REDAVIA C&I solar rental expansion in Ghana and Kenya.

Investment rationale

REDAVIA plays a catalytic role in bringing solar PV solutions to medium-sized enterprises in Ghana and Kenya. It revolutionizes the energy access and brings strong economic benefits for the off-takers.

Key Indicators

Financial Instrument

Debt

Amount

USD 3.1m in 2022

Year

2019 and 2022

Targeted impact – Number of beneficiaries

157,216

Targeted impact – Annual output (MWh/y)

23,120

Targeted impact – GHG avoidance (tCO2eq/y)

9,528