German off-grid solar firm Mobisol has secured 10 million euros (about Sh1.19 billion) from Finnfund to expand in East Africa.
Mobisol in March announced plans to open 20 more stores in Kenya with an eye on increasing rural market share in the country.
On Wednesday it said the Finnfund (Finnish Fund for Industrial Cooperation Ltd) funding will support expansion in Tanzania, Rwanda, and Kenya where it has installed nearly 10 megawatts, for households and small businesses.
“It allows us to further plug in the world and connect more people to a reliable source of energy,” said Thomas Gottschalk, Mobisol chief executive.
Finnfund chief executive Jaakko Kangasniemi said the financial commitment will help in attaining sustainable future.
“This is not only adding to the socio-economic growth in insufficiently served regions in East Africa, but also contributes to a greener and more sustainable future globally,” said Mr. Kangasniemi.
Mobisol, which retails directly to customers, recently opened its flagship store in Kisumu.
The company’s large solar home systems come with several LED light sets, portable lantern, mobile phone charger kit, flat-screen LED TVs up to sizes of 32 inches, portable radio and balance-of-system components including wiring and switches.
Credit: Business Daily
Published on 13 July 2017 | 10:55 am at Source