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EIB pumps $25m into off-grid solar project
3:32 CAT | 28 Mar 2018
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The European Investment Bank (EIB) has provided $25-million in financing for off-grid solar lighting company d.light to strengthen access to energy in Africa.
The financing will enable d.light to install solar kits, including panels and lamps, as well as low-energy equipment, such as radios and televisions, in sub-Saharan Africa.
The installations will initially take place in Ethiopia, Kenya, Nigeria, Tanzania and Uganda.
The company is targeting ten-million solar installations within five years.
EIB VP Ambroise Fayolle said this week that particular emphasis would be placed on rural and suburban populations, as well as micro-entrepreneurs.
“I am delighted that the EIB has signed this new financing with d.light in Africa for an off-grid solar project that will have a major economic and social impact on people and micro-entrepreneurs,” he enthused.
Solar kits do not require a grid, are easy to use and inexpensive for users, owing to a pre-payment system.
Fayolle added that EIB was determined to implement the 2015 Paris climate agreement and to cooperate in achieving the Sustainable Development Goals, particularly regarding access to affordable, reliable and sustainable energy for all.
Source: Engineering News
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