EDF Acquires Interest in Kenya’s SunCulture

EDF invests in convertible bonds that would convert into 20%-30% of equity in Kenyan startup SunCulture, the French company says in an emailed statement.

* SunCulture develops affordable solar-powered water pumps, irrigation systems for small-holder farmers

* EDF will help SunCulture with large-scale roll out in Kenya, will help in West Africa

* EDF will set up financing arrangements to help farmers finance solar-powered pumping systems.

Source: Bloomberg