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project

OnePower

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

Project overview:

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

Funding objective:

The equity-and-debt investment into the project vehicle, Sotho Minigrid Portfolio SPV, will fund the construction of the portfolio of mini-grids in Lesotho. Once built, the mini-grids will provide first-time electricity access to 20,000 people and enable seven health clinics to benefit from renewable energy.

Environmental and social rationale:

ElectriFI is supportive of OnePower business model as it has a positive developmental impact and enables new connections to a high-quality, cost-effective 24/7 AC power in rural Lesotho, while also having positive environmental and economic impacts.

Investment disclosure

www.1pwrafrica.com


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