Oikocredit invests in SolarNow to help bring solar energy to 17,500 customers in Uganda
Oikocredit has closed its largest investment yet in off-grid solar company SolarNow, together with SunFunder and responsAbility.
Oikocredit partner SolarNow sells, finances and installs solar systems and solar appliances to households and businesses without access to the electricity grid in East Africa. Oikocredit and responsAbility's investment of US $9 million in debt financing will enable the company to deploy 17,500 new off-grid solar systems to customers in Uganda.
This is the second time that Oikocredit and responsAbility have participated with SunFunder to finance the growth of SolarNow, after a similar US $6 million syndication 14 months ago.