Oikocredit and GCPF provide $10m facility to Sawa Energy
Facility targets 35 MW across 250 projects for commercial and industrial clients in East Africa.
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Oikocredit has partnered with the Global Climate Partnership Fund (GCPF) to provide a $10 million debt facility to Sawa Energy, a developer and operator of commercial and industrial (C&I) solar and battery systems in East Africa.
The facility will enable Sawa Energy to scale the rollout of distributed solar and battery systems for commercial and industrial clients, supporting businesses seeking reliable and cost-effective alternatives to grid electricity and diesel generation. The financing is expected to support the deployment of 35MW of solar capacity across 250 projects for C&I businesses over the next 36 months.
Henna Savolainen, senior investment officer at Oikocredit said: “We are excited to partner with Sawa Energy to support the expansion of their solar C&I portfolio, delivering tangible benefits to businesses and communities and advancing energy security and climate goals in line with our strategy.”
Samuel Kaufman, CEO and co-founder of Sawa Energy, added: “Access to reliable and affordable energy remains one of the most significant barriers to business growth across East Africa. This partnership with Oikocredit and GCPF allows us to accelerate the deployment of clean energy infrastructure that helps companies reduce energy costs, improve operational reliability, and lower their environmental footprint.”
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