Sawa Energy, a Uganda-based developer and operator of commercial and industrial (C&I) solar and battery systems, has raised a $10 million debt facility from Oikocredit, in collaboration with the Global Climate Partnership Fund (GCPF).
Sawa Energy will use the capital to roll out its solar and battery systems in East Africa, targeting 35MW of capacity across 250 C&I projects over the next 36 months.
Henna Savolainen, Senior Investment Officer at Oikocredit, said, “We are excited to partner with Sawa Energy to support the expansion of their solar C&I portfolio, delivering tangible benefits to businesses and communities and advancing energy security and climate goals in line with our strategy.
“The financing from Oikocredit and GCPF strengthens Sawa Energy’s capital structure and is expected to catalyse additional investment into the company’s growing project pipeline. By enabling the rollout of solar and battery systems tailored to client needs, the facility will contribute to reduced carbon emissions, improved energy security, and long-term economic growth in the region.”
Oikocredit is a social impact investor providing funding across sectors such as financial inclusion, agriculture, renewable energy, and community resilience. As of September 2025, it has over 45,000 investors and a development financing portfolio exceeding $991 million (€860.9 million) across 468 partners.
Founded in 2021 by Samuel Kaufman, Jordan Zipkin, and Guillaume Charpenel, Sawa Energy is a renewable energy company providing solar and energy storage solutions for businesses in East Africa.
Sawa Energy provides solar and energy storage solutions for small and medium-sized enterprises. It designs, finances, builds, owns, and operates on-site systems with no upfront cost.
With its Energy-as-a-Service model, the company manages projects end-to-end to provide reliability and long-term savings and, in the process, reduce the exposure to energy price volatility. Currently, Sawa Energy operates projects under long-term contracts of 10 to 25 years.
Samuel Kaufman, CEO and co-founder of Sawa Energy, said, “Access to reliable and affordable energy remains one of the most significant barriers to business growth across East Africa. This partnership with Oikocredit and GCPF allows us to accelerate the deployment of clean energy infrastructure that helps companies reduce energy costs, improve operational reliability, and lower their environmental footprint.”
“This facility also represents an important step in strengthening Sawa Energy’s long-term capital platform as we continue scaling our portfolio of commercial and industrial renewable energy projects across the region. We are proud to work with partners who share our vision of building a more sustainable and resilient energy future.”
To date, the firm has deployed over 65 installations across Rwanda and Uganda, serving sectors such as manufacturing, agro-processing, mining, hospitality, education, and commercial real estate. It now looks to expand across East and Southern Africa.
Sawa Energy also aims to replace diesel generation and reduce reliance on fossil-fuel-based power, and claims that its projects contribute to lower carbon emissions and support private-sector growth and job creation in the region.
Last October, Sawa Energy secured a $2.8 million (€2.5 million) equity investment from ElectriFI, the EU-funded Electrification Financing Initiative managed by EDFI Management Company.
