About Solar Energy sector in Kenya
The Solar Energy sector in Kenya comprises 178 companies, including 29 funded companies having collectively raised $1.84B in venture capital money and private equity. Out of these, 12 are Series A+ funded.
Solar Energy sector in Kenya has seen 1 acquisition and 1 IPO.
This sector includes solutions and technologies helping in adoption and promotion of solar energy.
Solar Energy sector is also known as Solar Power.
Technology Developers (companies having a core focus on research and developing upcoming technologies), power generating companies on a utility and residential scale, companies manufacturing different components of solar including solar cells, solar panels, racking system, solar trackers, power electronics (like solar inverters). Includes solar service providing companies like offering solar installation, financing for solar projects and customer acquisition for solar companies. Also includes solar product manufacturing companies like solar chargers, solar wearables, solar cooker etc. Besides this, product marketplace, software providing and monitoring companies are also included in the feed. Energy auditing companies, advisory and consultancy companies and other related solar service providing companies are excluded. Also excludes solar energy technology research organization and research labs which carry out laboratory research. Also companies providing financing solutions and crowdfunding platforms for the solar projects are excluded.
Top Solar Energy Companies in Kenya
There are 178 Solar Energy startups in Kenya which include d light, M Kopa, Sun King, PowerGen Renewable Energy, Solarise Africa. Out of these, 29 startups are funded, with 12 having secured Series A+ funding.
Over the past 10 years, an average of 6 new companies have been launched annually. Notably, several of these startups have been founded by alumni of INSEAD, Indian Institute Of Management–Lucknow and London Business School (LBS).
Here is the list of top Solar Energy startups in Kenya
1. d light
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Key facts about d light
- Founded Year: 2004
- Location: Nairobi (Kenya)
- Stage: Series E
- Total Funding till date: $118M
- Investors: Omidyar Network, Inspired Evolution and 38 Others
- Latest Funding Round: Conventional Debt, Feb 20, 2024, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 1 of 4,146 Competitors
2. M Kopa
Key facts about M Kopa
- Founded Year: 2011
- Location: Nairobi (Kenya)
- Stage: Series D
- Total Funding till date: $241M
- Investors: British International Investment, Generation Investment Management and 36 Others
- Latest Funding Round: Conventional Debt, Jun 06, 2024, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 1,133 Competitors
3. Sun King
Key facts about Sun King
- Founded Year: 2007
- Location: Nairobi (Kenya)
- Stage: Series D
- Total Funding till date: $547M
- Investors: LeapFrog Investments, Lendable and 19 Others
- Latest Funding Round: Series D, Dec 12, 2025, $*****
- Tracxn Score: 54/100 What is this?
- Competitors Rank: 19 of 4,146 Competitors
PowerGen Renewable Energy (founded as WindGen Power East Africa) installs commercial scale solar, energy storage, and hybrid systems across East Africa including micro-grids in off-grid communities. The company offering includes solar/wind power systems, solar water pumping, solar water heating, LED lighting, battery-generator hybridization, inverter backup, and micro-grids. As of June 2016, the company has installed over 100 renewable energy systems across East Africa. The company is backed by Tomorrow Ventures.
Key facts about PowerGen Renewable Energy
- Founded Year: 2011
- Location: Nairobi (Kenya)
- Stage: Series C
- Total Funding till date: $54.5M
- Investors: Shell Ventures, DOB Equity and 16 Others
- Latest Funding Round: Series C, Dec 25, 2025, $*****
- Tracxn Score: 45/100 What is this?
- Competitors Rank: 2 of 4 Competitors
Provider of solar energy financing and decentralized power infrastructure solutions. The business integrates finance, technology, and infrastructure to deliver renewable energy systems for commercial, industrial, and residential properties. Projects include the installation of rooftop solar photovoltaic arrays and battery energy storage systems to improve operational efficiency and reliability. These services assist organizations in reducing energy costs and environmental impact through distributed generation models.
Key facts about Solarise Africa
- Founded Year: 2017
- Location: Nairobi (Kenya)
- Stage: Series B
- Total Funding till date: $10M
- Investors: ElectriFI, E3 Capital and 7 Others
- Latest Funding Round: Grant (prize money), Dec 21, 2022, $*****
- Tracxn Score: 43/100 What is this?
- Competitors Rank: 3 of 27 Competitors
Companies founded year-on-year in the Solar Energy sector in Kenya
11 Solar Energy startups in Kenya were founded in 2021 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 2 |
2023 | 6 |
2022 | 9 |
2021 | 11 |
2020 | 8 |
2019 | 10 |
2018 | 10 |
2017 | 6 |
Stage-wise distribution of Solar Energy sector companies in Kenya
Out of the total 178 Solar Energy companies in Kenya, 29 have secured funding. Among them, 12 have reached Series A or higher, and 9 to Series B or beyond.
Founded - 178
Funded - 29
Series A+ - 12
Series B+ - 9
Series C+ - 8
Company Stage | No. of companies |
|---|---|
Founded | 178 |
Funded | 29 |
Series A+ | 12 |
Series B+ | 9 |
Series C+ | 8 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the Solar Energy sector in Kenya
Total funding year-on-year in the Solar Energy sector in Kenya
The Solar Energy sector in Kenya saw a total funding of more than $1.74B in the last 10 years. The most amount of funding was in 2022 at more than $516M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $180M |
2024 | $65.6M |
2023 | $337M |
2022 | $516M |
2021 | $116M |
2020 | $100M |
2019 | $26.6M |
2018 | $104M |
2017 | $241M |
Recent Funding Rounds in Solar Energy in Kenya
In the year 2025, till December 2025, Solar Energy companies in Kenya have raised $90M in equity funding across 2 rounds.
In the same period last year (i.e. till February 2024), Solar Energy companies in Kenya had raised $7.2M across 3 rounds.
So, 2025 has seen a 1150% rise in funding in Solar Energy companies in Kenya as compared to 2024.
Here are some recent, important funding rounds in Solar Energy companies in Kenya:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series C | 6200 | Dec 25, 2025 | ||
Series D | 2603 | Dec 12, 2025 | ||
Seed | 3287 | Feb 15, 2024 | ||
Seed | 2256 | Feb 09, 2024 | ||
Convertible Debt | 5375 | Jan 16, 2024 |
Top Investors in Solar Energy in Kenya
British International Investment is the top investor in Solar Energy companies in Kenya based on number of companies invested.
Here are some top investors in Solar Energy companies in Kenya:
Investor | Location | Top Portfolio Companies |
|---|---|---|
London (United Kingdom) | ||
The Hague (Netherlands) | ||
New York City (United States) | ||
Nairobi (Kenya) | ||
London (United Kingdom) | - |
M&A activity in Solar Energy sector in Kenya
In the year 2023, till March 2023, 1 acquisition happened in Solar Energy sector in Kenya.
See a more detailed list of acquisitions Here are some recent, important acquisitions in Solar Energy sector in Kenya:
Acquisition trends in Solar Energy sector in Kenya
Here are the acquisition trends in Solar Energy sector in Kenya:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | - |
2021 | - |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
Colleges which produce the most Solar Energy companies in Kenya
Companies founded by alumni from top colleges in the Solar Energy in Kenya
Most number of Solar Energy startups in Kenya have been founded by alumni from INSEAD, Indian Institute Of Management–Lucknow and London Business School (LBS).
College | No. of companies |
|---|---|
INSEAD | 1 |
Indian Institute Of Management–Lucknow | 1 |
London Business School (LBS) | 1 |
Stanford Business School | 1 |
Stanford University | 1 |
University of Cambridge | 1 |
University of Oxford | 1 |
Total funding in Solar Energy companies founded by alumni from top colleges in Kenya
In the last 10 years, Indian Institute Of Management–Lucknow, London Business School (LBS) and University of Oxford graduates' Solar Energy companies in Kenya have raised the most funding among top colleges.
College | Total Funding |
|---|---|
Indian Institute Of Management–Lucknow | $614M |
London Business School (LBS) | $614M |
University of Oxford | $614M |
Stanford Business School | $295M |
Stanford University | $295M |
INSEAD | - |
University of Cambridge | - |
Top News in Solar Energy in Kenya
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d.light joins DARES programme to bring solar power to 17.5 million NigeriansTechpoint.Africa•Mar 10, 2025•d light, The World Bank
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M-KOPA unveils X-Series phones with life insurance benefitsBusiness and Financial Times•Feb 10, 2025•M Kopa
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Leading Fintech M-KOPA Reaches 5 Million Customers, Unlocking $1.5Bn in Credit Across 5 MarketsFintech Finance•Sep 24, 2024•M Kopa
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Julian Mitchell Takes CEO Role at 4G Capital, Focusing on Regional ExpansionFintech Finance•Sep 19, 2024•4G Capital, M Kopa
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M-KOPA feted for affordable asset financing, digital loans and health insuranceTechMoran•May 16, 2024•M Kopa
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Bolt and M-KOPA rollout 5,000 electric motorcycles in KenyaTechMoran•Apr 22, 2024•Bolt, M Kopa, Roam, Ampersand Energy
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