Miale Solar Inventions, a Swedish-Kenyan renewable energy company associated with entrepreneur Isaac Macharia, has secured €5 million ($5.6 million) in credit financing from Hivos-Triodos Fonds to expand its distributed solar power business across East Africa, targeting commercial, industrial and healthcare customers.

The financing, arranged in partnership with Swedish impact-investing platform Trine, will support the deployment of an additional 9 megawatts of solar photovoltaic systems and battery energy storage capacity over the next six to 12 months.

Miale Solar expands solar financing model

The facility will strengthen Miale Solar’s ability to finance projects under its Energy-as-a-Service, Power Purchase Agreement and lease-to-own models, enabling customers to adopt solar power without bearing the full upfront installation costs.

Under these arrangements, Miale Solar finances, installs and maintains solar systems, while customers make payments under agreed long-term contracts. The model targets businesses and institutions seeking to reduce electricity costs and dependence on unreliable grid power.

Healthcare emerges as key growth market

Healthcare facilities represent a priority for Miale Solar as hospitals and medical centres require reliable electricity to operate diagnostic equipment, laboratories, intensive care units and other critical services.

The company aims to help healthcare providers reduce exposure to expensive and unreliable grid electricity through solar installations, incorporating battery storage where required to improve supply reliability.

Eric Mwenda, chief financial officer of Miale Solar Inventions, said the partnership would provide the institutional financing needed to accelerate the company’s project pipeline, particularly in healthcare.

He added that access to credit lines would enable the company to respond more quickly to customer demand while reducing reliance on financing arranged separately for individual projects.

Impact financing supports regional clean energy

Founded in 2015 and headquartered in Nairobi’s Karen district, Miale Solar designs, installs and finances solar photovoltaic systems and battery energy storage solutions for commercial, industrial and institutional customers across East Africa. The transaction highlights the role of institutional capital in expanding renewable energy access across East Africa, where financing constraints can delay otherwise viable solar projects.

Triodos Bank reported €1.1 billion ($1.24 billion) in new business lending across its five transition themes in 2025, while Triodos Investment Management said its climate and energy funds financed 186 energy-sector projects during the year.

For Miale Solar, the new credit facility provides additional capacity to convert its project pipeline into operational installations, expand clean energy access and support businesses and institutions seeking more affordable, reliable electricity.