News flash
- Mirova’s Gigaton strategy secures a USD 15 million investment in long-term debt financing with SolarAfrica, a leading renewable energy developer and Independent Power Producer based in Centurion, South Africa.
- This senior secured facility stands as Gigaton’s first investment in South Africa.
- This deal is the strategy’s fifth investment to date.
Founded in 2011, SolarAfrica has delivered and financed more than 204 projects that have collectively saved over 295,000 tonnes in CO2eq1. In 2023, the company achieved another milestone by successfully merging with Starsight Energy – a leading pan-African clean energy solutions provider – thus creating a powerhouse spanning Eastern, Southern and Western Africa.
Mirova’s Gigaton strategy aims to accelerate clean energy access and climate action in emerging markets. This investment will allow SolarAfrica to continue its (C&I) activities while expanding the scale of its utility-size projects.
Author: Bryan Groenendaal
