OnePower (follow-on)
- Country
- Lesotho
- Technology
- Multiple
- Business model
- Minigrid
EDFI ElectriFI and REPP invest in renewable energy startup OnePower to bring energy access to 20,000 people in rural Lesotho.
Contract signature date: December 2021
Total ElectriFI financing: LSL 75m (EUR 44m equivalent)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
EDFI ElectriFI contracted a EUR 44 million equity-and-debt with OnePower Lesotho PTY Ltd to build mini-grids that will provide first-time electricity access to 20,000 people and enable seven health clinics to benefit from renewable energy. This is the second investment in the company, after a Development Finance Loan of 0.1 million in 2018.
OnePower Lesotho PTY Ltd has been developing Lesotho’s first solar-battery mini-grid at the village of Ha Makebe in the Berea district, and is now ready to design, procure the equipment, build and operate a portfolio of up to 11 mini-grids for a total capacity of 1,8 MW in rural communities of Lesotho. This investment into the project vehicle, Sotho Minigrid Portfolio SPV, will fund the construction of the portfolio of mini-grids in Lesotho.
At a glance:
- Number of beneficiaries
- 27.010
- Annual output (MWh/y)
- 3.480
- GHG avoidance (tCO2eq/y)
- 13.647
Impact
- Beneficiary
- OnePower
- Financial instrument
- Equity & Senior debt
- Amount
- LSL 75m (EUR 4.4m)
- Country
- Lesotho
- Technology
- Solar PV - Energy storage
- Business model
- Mini-grid
- Year
- 2021
- Facility
- ElectriFI global