US company injects Sh120m into Kenyan solar installation firm
Kenyan solar firm Questworks has received a Sh120 million debt from US financier SunFunder.
The loan will finance Questworks’ expansion, which involves connecting more commercial and industrial solar buildings under its belt as various sectors of the country embrace green 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,” said Questworks co-founder and chief financial officer Tim Kipchumba.
Questworks installed the solar power panels that are currently feeding 75 per cent of Strathmore University’s power demands.
The 0.6MW solar photovoltaic system, tied to the national power grid, started lighting up the university in June 2014. The photovoltaic system is installed on the rooftop of the institution’s Madaraka Campus in Nairobi, occupying six buildings at the campus.
“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,” said SunFunder co-founder Audrey Desiderato. Source : Business Daily