The sales and installations of mobile PAYGO home solar systems have grown rapidly in the Swahili-speaking nation, as well as across East Africa. This has given rise to a series of ambitious rural and international electrification drives. Chief of them is the United Kingdom’s USD 72 Mn initiative for a solar power plant that will bring clean power to Southeast Kenya.
The most recent investment entry is a significant Series B round that was led by Toyota Tsusho. The corporation which is a general trading company and a member of the Toyota Group joined hands with Caterpillar Ventures, Prelude Ventures, Tao Capital, and Total Energy Ventures in conjunction with Kouros and TO.org to avail Nairobi-based Powerhive Inc a USD 9.3 Mn capital injection.
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