Off-grid solar company Solarise Africa announced on 9 February that it had signed a partnership agreement with turnkey energy firm Centennial Generating Company. The deal sees Solarise Africa acquire stakes in seven projects in Rwanda, two in Zambia, and one in Uganda, spread across the education, healthcare, retail, manufacturing, hospitality, and agriculture sectors.
“By partnering with Solarise, we are offering both battery energy storage and solar projects to commercial and industrial facilities. These projects are fully financed with turnkey engineering and asset management services”, Centennial founder and managing director David John Frenkil said.
Solarise Africa is active in five African countries offering financing to commercial and industrial energy consumers through power purchase agreement or leasing arrangements. It closed a series B investment round worth $10m last year with investment from Energy Access Ventures, France’s Proparco, and the Electrification Financing Initiative (AE 422/13)
Solarise Africa co-founder and managing director for East Africa Patrik Huber said that, “one of our new projects powers one of the largest commercial buildings in Rwanda. Sustainable energy provides reliable electricity that reduced its power costs by over 50%. That is the kind of impact solar can have.”
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