Odyssey Procure and KEREA Join Forces to Revolutionize Kenya's Solar Sector with $100M Financing Partnership

Odyssey Procure and KEREA Join Forces to Revolutionize Kenya's Solar Sector with $100M Financing Partnership

Key highlights:

  • KEREA members can access $100M of equipment finance for upcoming projects.
  • KEREA members get exclusive benefits on solar equipment - only 10% down payment at the time of order (compared to 15% for non-members) and a 60-day window to settle once equipment has arrived in Kenya (compared to 30-day window for non-members)

Odyssey Procure and KEREA have officially inked a partnership agreement aimed at catalyzing the solar industry in Kenya. With an infusion of $100 million in financing, this collaboration is set to empower renewable energy companies across the country by providing access to high-quality solar equipment for their projects. To learn more about how to access these funds as a KEREA member, visit: https://procure.odyssey.energy/pages/KEREA 

The partnership comes at a pivotal time when Kenya is making significant strides towards embracing renewable energy solutions. With the ever-increasing demand for clean and sustainable power sources, the need for reliable access to solar equipment is paramount. This agreement between Odyssey Procure and KEREA is poised to address this need head-on.

One of the key highlights of this partnership is the flexibility it offers to KEREA members. Under the terms of the agreement, KEREA members will have the opportunity to procure solar equipment with a 10%  down payment (compared to 15% for non-members), significantly lowering the financial barrier that often impedes the growth of renewable energy projects. This innovative approach ensures that even smaller players in the industry can access the necessary resources to thrive.

Furthermore, KEREA members will benefit from an extended payment window of 60 days (compared to 30 days for non-members) to settle the remaining balance once the equipment has been delivered to Kenya. This extended grace period enables businesses to better manage their cash flow, reducing financial strain and allowing them to focus on the successful execution of their projects.

Perhaps one of the most exciting aspects of this collaboration is the access to warranties and after-sales support typically reserved for larger players in the solar industry. This means that KEREA members, regardless of their size, will receive top-notch customer service and technical assistance, ensuring the long-term reliability and performance of their solar equipment.

Justin Tinsey, Head of Odyssey Procure, expressed his enthusiasm for the partnership, stating, "We are thrilled to be working alongside KEREA to bolster Kenya's solar sector. Our shared vision is to empower local businesses with the tools they need to thrive in the renewable energy market. With our financial backing and access to solar equipment we are confident that this partnership will drive sustainable growth in Kenya's solar industry."

Andrew Amadi CEO of KEREA, echoed these sentiments, adding, "This collaboration marks a significant turning point for our members. By providing access to financing, flexible payment terms, the best  equipment, and premium support services, we are leveling the playing field and fostering innovation in Kenya's renewable energy landscape."

The partnership between Odyssey Procure and KEREA is expected to have far-reaching impacts, not only in the solar industry but also in Kenya's broader efforts to achieve its renewable energy goals. By breaking down financial barriers and providing the support needed for success, this collaboration is a testament to the commitment of both organizations to drive sustainable change in the energy sector.

About Odyssey Procure: Odyssey Procure (https://procure.odyssey.energy/) is a leading provider of solar  equipment and  financing solutions for renewable energy projects. With a focus on empowering businesses in the renewable energy sector, Odyssey Procure offers the best solar equipment and innovative financial products and services to support the growth of clean energy initiatives worldwide.

About KEREA: KEREA (https://kerea.org/) is a nonprofit organization dedicated to advancing renewable energy adoption in Kenya. Through advocacy, education, and collaboration with industry stakeholders, KEREA works to create an enabling environment for sustainable energy projects and initiatives in the country.

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