British International Investment has announced an additional $4 million investment in SunCulture, a Kenya-based company that designs, manufactures, finances, and services solar energy systems and irrigation equipment.
This follows an investment in 2023, which enabled SunCulture to provide 9,000 solar irrigation systems to farmers in Kenya.
This investment will further bolster an innovative carbon financing scheme, which reduces the upfront costs of these systems, making them more financially accessible to up to 16,000 smallholder farmers in Kenya.
Christopher Chijiutomi, managing director and head of Africa at British International Investment, said: “Our further investment in SunCulture will continue to reduce the upfront costs of solar irrigation systems, reaching more smallholder farmers in Kenya. This will increase farmland productivity and farmers’ incomes as well as improve their resilience to the impacts of climate change. As the UK’s DFI, we are proud to support a pioneering carbon financing pilot that demonstrates feasibility and attracts private capital. It exemplifies our commitment to fostering innovation, enhancing food security, and improving access to clean energy for all.”