- Solar PV
- Business model
EDFI ElectriFI invested EUR 1.5m in Sunkofa Energy, an innovative company providing energy services through smart mini-grids in Benin. EUR 0.8m is funded through the ElectriFI Country Window for Benin while the remaining EUR 0.7m are financed via the Global Facility.
Contract signature date: November 2021
Total ElectriFI financing: EUR 1.5 m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
Sunkofa is a young developer and operator of rural mini-grids in sub-Saharan Africa. Sunkofa’s most advanced project is located in Benin where the company is looking to build 40 mini-grids supported by a grant from the Millennium Challenge Corporation. In addition to Benin, Sunkofa has a strong pipeline of projects in West and Southern Africa.
EDFI ElectriFI EUR 1.5 m equity investment will finance Sunkofa’s corporate needs, as well as a portion of the construction costs in Benin and provide funding for further mini-grid development. EDFI ElectriFI funding will contribute to the much-needed development capital in the mini-grid sector. ElectriFI investment will provide strong additionality due to small ticket size and early stage of the company.