GJO & Partners

Energy in Kenya: funding deals and active investors

One of the best-documented segments on the platform. Latest rounds, investors who lead them, tickets and instruments — Energy, Kenya.

50

deals recorded

19

over 12 months

27 M$

median disclosed ticket

60

identified investors

Key findings

  • 50 funding deals recorded (Energy, Kenya) since 2015, involving 31 companies and 60 identified investors. 19 of them over the last 12 months (12 the previous year).
  • Median disclosed ticket: 27 M$; half of the deals fall between 9.5 M$ and 55 M$ (41 amounts disclosed out of 50, 18.7 bn $ in total).
  • Where the money goes: Electric mobility (36 %), Renewable power plants: solar, wind, hydro, geothermal, biogas (16 %), Clean cooking (14 %).
  • Most frequent stage: Debt (32 %); most used instrument: Equity (44 %).
  • Most active investors: Novastar Ventures (4), A.P. Moller Capital (3), British International Investment (3).
  • 30 % of deals are syndicated (at least two investors around the table).

Industries

  • Electric mobility18
  • Renewable power plants: solar, wind, hydro, geothermal, biogas8
  • Clean cooking7
  • Off-grid solar and solar kits5
  • Productive use: solar cooling and pumping3

Stages

  • Debt16
  • Growth14
  • Seed5
  • Series A3
  • Series C+2

Instruments

  • Equity22
  • Senior debt18
  • Quasi-equity1

Deals per year

YearDealsDisclosed amounts
2022578 M$
202413299 M$
202513811.8 M$
20261617.3 bn $

Most active investors

Latest deals

CompanyDateDisclosed amountsLead
Raffinerie de Lamu (East Africa Oil Refinery)Oil and gas (upstream and gas infrastructure) · Kenya · GrowthSept 202616 bn $undisclosedsource
SunCultureProductive use: solar cooling and pumping · Kenya · DebtSept 202610 M$Mirova Natural Capitalsource
SpiroElectric mobility · Kenya · DebtSept 202618 M$Africa Go Green Fund (AGG)source
Arc Ride LtdElectric mobility · KenyaSept 2026undisclosedProparcosource
ARC RideElectric mobility · Kenya · DebtSept 202633.3 M$Novastar Venturessource
M-KOPA KenyaElectric mobility · Kenya · DebtJul 202630 M$FMOsource
SpiroElectric mobility · Kenya · GrowthJun 202655 M$NewTrails Capitalsource
SpiroElectric mobility · Kenya · GrowthJun 2026215 M$Impact Fund Denmarksource
Sistema.bioRenewable power plants: solar, wind, hydro, geothermal, biogas · KenyaMar 202653 M$BNP Paribas Asset Management Altssource
ZenoElectric mobility · Kenya · Series AMar 202625 M$Congruent Venturessource
Kenya Pipeline CompanyFuel and LPG distribution · Kenya · GrowthFeb 2026824 M$undisclosedsource
SpiroElectric mobility · Kenya · DebtFeb 202650 M$Afreximbank (Banque africaine d'import-export)source
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See also

Method: published funding deals (press releases, specialised media), recorded by Invest Matching's news monitoring and reviewed before integration. Amounts in US dollars; deals without a disclosed amount count in the totals, not in the medians.