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6 November 2024

Equator Energy

Based in Kenya, Equator Energy is a provider of solar energy solutions to commercial and industrial (C&I) companies. STOA invested in the company in 2023 with the aim of contributing to sustainable economic growth in East Africa.

Challenges

African economies are particularly affected by the global rise in energy prices. In Kenya, the price of electricity increased by 40% between July 2020 and July 2023. In this context, the ability to provide electricity at attractive prices is essential. This is the mission of Equator Energy.

The Project

Since its creation in 2016, Equator Energy has grown rapidly. It has built a portfolio with 45 megawatts (MW) of solar power capacity currently in operation and 50 MW under development, and now aims to reach 300 MW by 2030.

By taking charge of the design, construction and maintenance of solar power plants installed directly on customer sites, Equator Energy offers attractive prices compared to centralised networks. Companies can reduce their electricity bills by 10-20%, giving them a major advantage over their competitors. They benefit from access to affordable, clean and sustainable energy that reduces both their energy costs and their greenhouse gas emissions.

With its expertise and experience in the C&I industry, STOA is helping to accelerate our growth trajectory. Their support will also enhance our ability to deliver innovative solar solutions.

Pierre Egot, Acting CEO of Equator Energy

Key Facts

Company: Equator Energy

Infrastructure: Solar (C&I)

Geographic Area: East Africa

Stake: 33%

Since: 2023

Co-shareholders: IBL Energy, Evolution III LP (Inspired Evolution)

See Project News
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