Windhoek-Namibia Stock Exchange-listed private equity firm, Stimulus Investments, has concluded its second round funding to Khomas Solar-Saver. The company did not give figures of the loan but said that the funding would be used to grow Solar-Saver’s extensive portfolio of solar rental assets throughout Namibia.
Established in 2016, Solar-Saver offers a long-term rental solution for the installation of rooftop solar photovoltaic (“solar PV”) systems to corporate and commercial clients in Namibia. The business model focuses on clients with high-grade properties of long-term relevance and enables them to install a complete solar PV system without any capital outlay. These systems go a long way in fulfilling the demand for cost effective, renewable energy solutions. “Our current rental portfolio includes 46 solar PV systems, with clients ranging from retailers to fuel stations to hospitals, and many other businesses. Demand for our offering has been tremendous and our project pipeline should see us commission a further 60 PV systems this year”, said Mr Tim Frankish, one of the founding shareholders and a director of Solar-Saver. “Our clients appreciate the opportunity to ‘go green’ and reduce their monthly electricity costs without the expense and hassle of buying and maintaining their own roof top systems”, he added.
“Solar-Saver has a highly competent management team with a unique combination of technical and financial expertise. We appreciate the opportunity to support them as the business grows from strength to strength throughout Namibia,” said Josephat Mwatotele, the Executive Director of Stimulus Investments