REDAVIA and the responsAbility-managed climate fund have signed a financing agreement for REDAVIA's Ghanaian subsidiary. The latest addition to the responsAbility portfolio of companies active in the distributed energy field, REDAVIA offers solar power for businesses and communities with a regional focus on East and West Africa.
In order to further expand its business in Ghana, REDAVIA is obtaining debt financing amounting to $4 million. responsAbility and REDAVIA have worked together on this innovative and first of its kind debt facility, the Industrializing Africa Solar Funding Platform, which combines an efficient use of funds and a scalable facility for other potential funding partners.
The solar farm is based on a pre-configured system, consisting of high-performance solar modules and high-quality electrical components. It is easy to ship, set up, scale and redeploy. Flexible lease agreements allow customers a cost-effective, reliable and clean energy solution with just a minimal upfront investment, and operational adaptability to market changes.
REDAVIA solar power enables a seamless integration into the existing electricity supply infrastructure of a business or community to ensure a more cost-effective and cleaner energy mix - with diesel generators, in a battery set-up or as a reliable complement to grid-connected power. As such, the company is supporting the reduction of carbon emissions and increasing the impact on a sustainable society.
Speaking on behalf of responsAbility Stefan Issler, Head Energy Debt Financing – Direct Investments, declared: “We are thrilled to expand our financing activity in the distributed energy area by adding a provider of a scalable business model for the industrial and commercial sector to our portfolio. The reliable availability of affordable electricity is a key prerequisite for economic development, and we are pleased to actively support REDAVIA in their contribution to the SDGs.”
“Ghana continues to be a very promising market for us and we are excited that responsAbility has the trust and confidence in our ability to deliver and add value to its portfolio,” stated Erwin Spolders, CEO and Founder of REDAVIA. “This partnership will empower us to grow further and faster in the country, subsequently enabling Ghanaian companies to save money and thrive - thanks to REDAVIA solar power.”