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Les Soleils du Bénin

Solar PV
Business model

ElectriFi extended a EUR 3.1m Senior Debt to Les Soleils du Bénin to complement the equity financing already provided by NEoT Offgrid Africa.

Contract signature date: February 2023

Total ElectriFI financing:  EUR 3.1 m

Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

About the project:

Générale du Solaire International and Africa Renewable Energy System & Solution (“ARESS”) have developed a portfolio of 12 mini grids in Bénin. Both companies have teamed up with a financing partner, NEoT Offgrid Africa, to create “Les Soleils du Bénin”, a SPV in charge of building and operating the mini grids. The goal is to install 1,7MW of PV and 3MWh of battery, supplying more than 5.000 homes and businesses with electricity. The total project costs of c. EUR 9m is partially financed by subsidies from the MCA-Benin II Offgrid Clean Energy Facility.

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