NAIROBI, Kenya, Oct 11 – Strathmore University is among fourteen companies across sub-Saharan Africa picked to benefit from the fourth round of the Powering Renewable Energy Opportunities (PREO) programme catalytic grant fund of £2 million (Sh336.8 million).
Other companies that are set to benefit from the grant include Simusolar, AG EnergiesJokosun, SLS Energy, Farm WarehouseChaji, Hinckley E-Waste, ICE Solar, Drop AccessAcele Africa, Mazi Mobility, Ecobora, and Inter Ethiopia Solutions.
In a statement, PREO said that the fourteen selected companies were focused on harnessing clean energy and driving a just, inclusive energy transition throughout the region.
The programme is backed by the IKEA Foundation and UK aid via the Transforming Energy Access (TEA) platform, in partnership with the Carbon Trust and Mercy Corps’ Energy 4 Impact.
“We are excited to announce the latest line-up of new companies to be supported over the next phase of PREO. As demonstrated by the breadth of sectors and technologies represented there is an enormous opportunity to prove the viability of business models that will help drive income creation and improve livelihoods in sub-Saharan Africa,” said Rhiannon Turner, PREO Programme Lead at the Carbon Trust.
Each of the fourteen companies will receive between £86,000 and £237,000 across 1-2 years, along with technical support.
More than 240 applications were submitted from 29 countries, equating to a total funding request 17 times greater than was available.
“This response underlines the substantial demand for funding to support and scale innovative business models that drive the adoption of renewable energy solutions,” PREO stated.
This particular phase of the grant aims at fostering climate resilience, economic development, and job creation in sub-Saharan Africa.
