With perpetual power outages, a section of Kenyans are resorting to alternative sources of energy. While the initial cost of installing a fully functional solar system for domestic or industrial use is expensive for most Kenyans, the ‘Pay-As-You-Go (PAYGo)’ business model has garnered traction among the low income earners.
In this article, WoK unveils the billionaires and private equity giants quietly dominating Kenya’s multi-billion shilling solar industry in 2026.
| Company | Key Founders/Owners | Famous Billionaire Backers |
| M-KOPA | Jesse Moore, Nick Hughes | Richard Branson, Al Gore |
| Sun King | T. Patrick Walsh, Sam Goldman | Pierre Omidyar (eBay) |
| Zola Electric | Xavier Helgesen, Joshua Pierce | Elon Musk (Tesla), Bill Gates |
| Davis & Shirtliff | Alec Davis & Family | Local Private Equity |
| Unit 2HA Energy | Harun Aydin | Strategic Political Investors |
M-KOPA
This company ranks among the three dominant players in the multi-billionaire solar energy market. It evolved from a start-up to a profitable fintech giant funded by Richard Branson and Al Gore. The founders are Jesse Moore, Chad Larson and Nick Hughes (the mind behind M-Pesa’s early growth). The Princely Family of Liechtenstein has a stake through LGT Venture Philanthropy.
M-Kopa is chaired by corporate heavyweight Mugo Kibati.
Sun King
This is another big brand in Kenya that is ‘unfortunately’ not locally owned. According to Sun King website, they “distribute, install and finance solar energy solutions for the 1.8 billion people without reliable access to electricity” making them the largest off grid solar company in the world. The company is owned by University of Illinois graduates T. Patrick Walsh, Anish Thakkar, and Sam Goldman.
To fuel its aggressive expansion, Sun King recently secured a massive Ksh 20.1 billion capital injection. It was backed by global heavyweights like General Atlantic and Pierre Omidyar, the billionaire founder of eBay, who clearly see the Kenyan solar market as the next big frontier.
Zola Electric
The third giant is Zola Electric that enjoys the backing OF billionaire Elon Musk and Bill Gates via Vulcan Capital. The company is owned by Xavier Helgesen, Joshua Pierce, and Erica Mackey.
While its financier, SunFunder is headquartered in Nairobi, the company’s major markets are Tanzania, Rwanda, Nigeria, Ghana, and Côte d’Ivoire
Davis & Shirtliff
A household name in Kenya, Davis & Shirtliff was founded by E.C. Davis and F.R. Shirtliff in 1946. The 80 year old company, under the tutelage of Alec Davis, controls the lion’s share of industrial solar and water heating systems in Kenya.
Harun Aydin
A controversial Turkish businessman and close ally of president William Ruto. Harun Aydin is a critical supplier to the national grid through his company, Unit 2HA Investment Energy Africa, he is developing a 50MW solar plant in Laikipia. The project is situated on a staggering 3,000-acre parcel in the Laikipia Ranching belt. His investment in the Rumuruti plant alone is valued at over Ksh 6 billion.