Ugandan renewable-energy provider Sawa Energy has secured a US$2.9 million (EUR 2.5 million) equity investment from ElectriFI the European Union-funded energy finance initiative, as it ramps up deployment of solar-plus-battery systems for commercial and industrial (C&I) customers in Uganda and Rwanda.
The funding will support Sawa Energy’s business model of offering fully financed solar PV and battery storage solutions under long-term contracts, replacing costly diesel generators in business enterprises. The company reports the model delivers lower cost and cleaner power to C&I clients.
ElectriFI’s investment is channelled through its Uganda country window and aims to unlock additional institutional capital to fuel expansion of Sawa Energy’s systems across East Africa. (
Founded in 2021, Sawa Energy plans to deploy the new funding to accelerate installation of solar-plus-storage assets and deepen its presence with commercial customers. The company also targets regional growth beyond Uganda and Rwanda.
Analysts say the deal highlights growing investor appetite for off-grid and behind-the-meter renewable solutions in Africa’s commercial sector, where diesel fuel and electricity costs remain high and grid reliability low.
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