Kenya Climate Ventures (KCV) has this afternoon signed off yet another financing agreement with Ofgen, a company specializing in turnkey construction of photovoltaic solar plants on a commercial and Industrial level. The signing of the financing that happened at the KCV offices along Ngong Road will see Ofgen have a better management of its working capital and will enable the company that provides alternative sources of renewable energy expand in its endeavor to implement more projects for industrial and commercial use.
Speaking during the signing ceremony, KCV CEO Victor Ndiege glad to partner with Ofgen as the financier which will go a long way into ensuring that the supply of clean and affordable power becomes a reality. “The signing of this financing agreement is a clear indication of our resolve to accelerate clean energy and thus mitigate the impact of Carbon emissions on climate change,” Victor has said.
Ofgen which whose specialization covers the entire value chain, ranging from project development, construction, financing to operations and maintenance of solar systems is also expected to benefit from technical assistance and business development ideas from KCV for the next five years.
“We are delighted to become part of KCV clients as we continue focusing on the technical and economical optimization of the solar power plants in Kenya,” M Jibril Omar the CEO of Ofgen said. “We are developing a qualified line of local projects in the photovoltaic sector that are available to investors interested in the energy sector; And we are glad that Kenya Climate Ventures has partnered with us on this.
Kenya Climate Ventures is an independent investment management company based in Kenya seeking to accelerate the development of the clean-tech industry as a whole by providing much needed tailored and targeted financial and managerial assistance support to innovative early stage businesses. KCV seeks to invest in businesses that have relevant products or services, sustainable competitive advantage, good management teams and ethical business practices.
More information about KCV can be found on www.kcv.or.ke
By Solomon Irungu