InfraCo Africa and Rural Village Energy Solutions (RVE.SOL) have signed a joint shareholders agreement to invest $8 million in the expansion of RVE.SOL’s multi-sector KuduraPower East Africa (KPEA) business in Kenya. The company intends to build 22 minigrids using solar PV in Kenya’s Busia county. Each minigrid will have a storage mechanism to ensure that people may continue to use energy after dark or during inclement weather. InfraCo Africa will also own 40 per cent of the company that finances, constructs and operates off-grid clean energy projects under the agreement. The funds invested by the investment firm will be utilised to facilitate KPEA’s expansion. The minigrids are projected to be installed by the first quarter of 2022, with complete commissioning by the third quarter.
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