SOLAR23
Energy
Information
Company Description
SOLAR23, as a german company, provides PV grid-connected and off-grid solutions as well as solar thermal solutions – engineered in Germany. The activities of "Solar23 GmbH" mainly cover the African continent, middle-east and Asia . To date, the company has successfully positioned more than 50 MW of photovoltaic installations worldwide.
Countries of Operation
Zambia, Burundi, Senegal, Gambia, Nigeria, Kenya, Togo and Uganda
Ownership of Company
- 80% European
- 20% Other
Number of years since incorporated
25
Project Pitch
Solar23 (Germany), through its 100%-owned Zambian subsidiary Renwasol Ltd., is scaling decentralized renewable energy along the Lobito Corridor. Renwasol has operated in Central Province since 2022 from Kabwe, with four solar mini-grids (recently commissioned by the minister of Energy) and SHS deployments active in Kapiri Mposhi District. Kapiri Mposhi is a strategic Lobito Corridor interchange in Zambia, linking the Jimbe–Chingola rail section to Zambia Railways and the TAZARA line.
Near-term, Renwasol will connect 4,100 households, MSMEs, agro-processing facilities, light industry, and public services by December 2025 using mini-grids, SHS, and productive-use-of-energy (PUE) systems. By 2030, we target 10,000 connections, prioritizing corridor-adjacent communities. Planned expansion sites include Lunchu A and Lunchu B (Kapiri Mposhi), with additional villages to follow.
Feasibility and socio-economic studies are underway; a bankable business plan and financial model will be ready by start of November 2025. In parallel, we are advancing commercial offtake discussions with agro-processing and manufacturing partners (including a multinational inputs supplier Bayer) to anchor daytime loads and enhance project bankability.
We seek investment and partnerships for mini/micro-grid and C&I deployment, grants/subsidies and concessional/senior debt for generation and distribution assets and for PUE enablement and last-mile connections. The program aligns with EU–Zambia priorities on resilient logistics, local value addition, jobs creation, gender inclusion, and climate mitigation along the Lobito Corridor.
Team
Solar23 is composed of 27 local staff (50% women) in Germany and Tunisia and has 15 Staff members based in Zambia through its subsidiary RENWASOL
Stage
Established (mature)
Annual Revenue (in EUR)
EUR 10,000,000 - 100,000,000
Number of employees
11-50
Total Project Cost (in EUR)
EUR 10,000,000
Financing needs (in EUR)
60% grant and 30% debt, solar23 will bring in own equity 10%. Funding traction to date (in EUR): 6,000,000
Type of financing needed
Debt; Grant
Planned allocation of fundraising capital
Expansion (expanding an existing activity)