Kenya’s solar pump technology firm secures investment funding

0

Kenya’s solar pump technology firm, SunCulture, known for developing solar-powered water pumps and irrigation solutions for smallholder farmers, has received investment funding from the EDF Group.

This is with a view to making the smallholder farming households more productive in an affordable and environmentally friendly way. SunCulture will sell affordable solar-powered water pumps and customized irrigation systems bundled with ongoing support and financing to said households.

EDF stands out as one of the world’s largest electric utility companies and a global leader in low-carbon energy. The company comes on boards to join SunCulture’s existing institutional investors – Energy Access Ventures and Partners Group.

Also Read: Ugandan farmers urged to use solar water pumps in agriculture

According to reports, SunCulture will open up the East African market for EDF to expand the impact of its off-grid solutions across the continent. Similarly, EDF will share its experience in selling and installing off-grid solutions designed for residential customers as well as its knowledge of Central and West African markets. It will also assist in setting up financing vehicles designed to help farmers afford these solar irrigation solutions under SunCulture’s “pay-as-you-grow” platform.

SunCulture’s chief executive officer and co-founder, Samir Ibrahim, expressed his optimism on the partnership, which he says will give them the opportunity to work at increasing the rural household productivity across Africa. He further commended EDFs commitment to partnering with local companies to create lasting impact, terming it as an important shift in the way multinationals are doing business in Africa.

On the other hand, the senior executive vice president in charge of the International Division at EDF, Marianne Laigneau, said that the partnership will enable EDF to enter a new and very promising business line of Off-Grid offerings. She further added that in the long run, EDF is looking to become SunCulture’s partner of reference in their expansion beyond Kenya.