SunCulture receives boost for photo voltaic irrigation growth in Africa

digital pressure gauge ราคา , a solar irrigation company headquartered in Nairobi, Kenya, has obtained the first disbursement from a new US $11m syndicated debt facility to increase its operations in sub-Saharan Africa.
The new loan is groundbreaking for the productive use solar sector because of its size and its progressive combination of working capital and end-user financing.
Arranged by SunFunder, the co-investors in the facility are Nordic Development Fund; Triodos Investment Management, through its Hivos-Triodos Fund; SunFunder by way of its Solar Energy Transformation Fund; AlphaMundi via each its SocialAlpha and AlphaJiri Investment Funds; and the AfDB’s FEI OGEF managed b Lions Head.
This will enable SunCulture to scale up renewable energy installations at smallholder farms and households that sick mitigate over 20,000 tons of CO2 annually as farmers substitute diesel pumps with solar ones while facilitating revenue development and job alternatives in rural communities.
SunCulture has pioneered a Pay-As-You-Gro business mannequin to make solar-powered irrigation reasonably priced for smallholder farmers in sub-Saharan Africa, combining end-user finance, value-added providers, fashionable climate know-how, and access to enhance productiveness. A current report developed b Dalberg Research exhibits that irrigation methods and solar-powered water pumps can improve farmers production between 2 and four times, and their revenue between 2 and 6 times.
READ: SunCulture to distribute solar-powered water pumps across Africa
Samir Ibrahim, Chief Executive Officer at SunCulture, stated: “The previous yr was devastating for the millions of smallholder farmers in Kenya; 87% are in a worse financial position due to the pandemic. 81% of SunCulture farmers, however, have been able to improve their revenue from farming in 2020. Solar irrigation helps create food security and sovereignty, and it also helps carry folks out of poverty. This facility further enables our efforts to help farmers by providing them with extra of our photo voltaic solutions, and sooner.”
Jemimah Kwakye-Fosu, Investment Officer, who led the transaction for SunFunder, said: “We are delighted to have led this syndicate of proactive lenders who worked properly together for a common goal: to assist SunCulture reach man extra farmers. It reveals how working capital can be combined with finish consumer financing, which is crucial for making productive use technologies reasonably priced.”
Surabhi Mathur Visser, Head of Investments at SunFunder, stated: This is a pioneering transaction that demonstrates how productive use technologies like photo voltaic irrigation could be scaled up. SunFunder organized this facility with a similar-minded group of lenders to help an progressive product and enterprise model. We look ahead to seeing SunCulture grow in Kenya and ne markets.
Karin Isaksson, Managing Director at NDF, said: “This loan to SunCulture is the second prolonged to an organization graduating from the EEP Trust Fund managed by NDF. It is a clear demonstration that we are able to deliver on the brand new NDF Strategy and its commitment to supply versatile and scalable financing in addition to catalytic influence. It has all of the ingredients that define NDFs added value in the climate financing panorama. It demonstrates our capability to convene and mobilise additional financing, in addition to our distinctive mi of financing instruments to match the needs of our companions, public or personal. We are proud to be standing with our companions and supporting the emergence of a greener economic system, exactly presently of COVID-19.
Since our first funding in 2019, SunCulture has made big strides to unlock the potential of smallholder agriculture through innovative merchandise and client credit score. FEI-OGEF is happy to be able to refinance our inventor mortgage into this new working capital facility and proceed that growth alongside a dedicated and constructive group of lenders, famous Harr Guinness from Lions Head.
READ: SunCulture partner with Togo to speed up entry to sustainable solar-powered farming
Judith Santbergen, Senior Investment Manager at AlphaMundi, said: “Since 2018, AlphaMundi has successively offered help to SunCulture by way of a mixture of technical help and debt funding. เกจ์วัดแรงดันแก๊ส are excited to continue and improve our funding in the company by way of this new, innovative working capital facility.
Sjoerd Melsert, Senior Investment Manager at Triodos Investment Management, stated: “SunCulture is a great instance of an progressive firm that is lively on the nexus of renewable power and agriculture, utilizing photo voltaic vitality to extend farmers’ incomes. Our facility supports the further growth of SunCultures pay-as-you-go solar portfolio, resulting in a extra sustainable and better manufacturing for smallholder farmers, which is full aligned with the mission, ambition and activities of Hivos-Triodos Fund.”
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