US-based SunFunder injects Sh120mn in Kenyan solar firm
The Kenyan solar energy company, Questworks, has received a SH120mn (US$1.19mn) loan from the US solar financer, SunFunder.
The finance will support Questwork’s expansion plans, as it aims to increase its portfolio with commercial and industrial solar connections.
Kenya is becoming increasingly interested in solar energy projects and has seen a rise in sectors implementing renewable energy.
“We are very happy to have secured this SunFunder support which will enable us to execute on our growing solar pipeline, and we believe there is also an exciting opportunity to enable the Kenyan economy thrive on reduced cost of energy,” stated Yim Kipchumba, Co-Founder and Chief Financial Officer at Questworks.
The Kenyan firm was responsible for installing solar panels for Strathmore University – providing enough to power 75% of the campus’ energy demand.
“During our due diligence we were highly impressed by Questworks’ in-house technical team and the diversity of skills that make them a one-stop shop for end users and real estate developers wanting to build solar PV systems,” commented Audrey Desiderato, Co-Founder of SunFunder.