ELEVATE is a pilot investment readiness programme under the GET.invest Finance Readiness Support. GET.invest is a European programme that mobilises investment in renewable energy, supported by the supported by the European Union, Germany, Norway, the Netherlands, Sweden, and Austria. Our goal is to enhance investment readiness for active locally owned and managed companies in the off-grid solar sector in Africa by offering and complementing a specialized suite of technical expertise that will accelerate the companies’ path to scale.
The selected companies in the 2nd ELEVATE cohort are based in 11 countries across Africa, with strong representation from Nigeria. Almost 30% of companies are majority female-owned and more than 60% have a majority female management. About 30% of the companies work with productive use of renewable energy products and services, including e-mobility, solar water pump distribution, solar irrigation, solar-powered cooling storage, and solar-powered drying.
The ELEVATE programme provides the following to the participating companies:
- Access to needs-based tailored trainings held virtually where strategies and measures for industry growth, product improvement, business and management operations, innovation and scaling will be developed and implemented.
- Access to curated tools including an investor guide/prospectus to guide the companies through the investment/financing landscape.
- Access to the Bridge Live and exclusive webinars which connect off-grid solar industry leaders with peers and other strategic investors/ technical assistance providers to help them thrive.
- Access to investor-focused events such as the 2024 Africa Energy Indaba Event and the 2024 Global Off-Grid Solar Forum.
- Subsidized GOGLA membership for two years.
The companies in this year’s cohort are:
Ethiopia: Sinopia, Vera International Business PLC
Kenya: Irri-Hub Ke, Rafode
Uganda: Fena Solar
Rwanda: Neseltec LTD
Burundi: Renewgen AS
Nigeria: ACOB Lighting, Betapawa Solutions, Fizzle Power Tech, Kipitfresh, Osomobegbe Global Ventures Limited
Burkina Faso: Nafa Naana SAS
Benin: World Jolly Generation Engineering and Trading
Botswana: African Sun Energy
Malawi: Green Impact Technologies, Zasolar
Democratic Republic of Congo: GoShop Energy
Learn more about the 1st ELEVATE cohort
The first ELEVATE cohort saw a final list of 20 companies who were shortlisted from over 68 applications received. The companies selected operate in East, West, and Southern Africa with the majority of them based in East Africa and Ethiopia having the most companies selected. The cohort also includes four companies that are fully female-owned. The companies cover a range of market segments from solar home systems to C&I and productive uses (PUE) of energy.
