PEG Africa (follow-on)
- Country
- Ivory Coast
- Technology
- Solar PV
- Business model
- SHS
EDFI ElectriFI invested EUR 1.27m in West African leading off-grid asset financing company PEG Africa to further grow its footprint in Ivory Coast.
Contract signature date: Sept 2020
Total ElectriFI Financing: EUR 1,27 m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
ElectriFI contracted a USD 1.5 million junior corporate debt to enable the company PEG Africa to further grow its footprint in Ivory Coast. This is EDFI ElectriFI’s second investment in the company, after participating with a USD 5 million junior corporate debtin PEG Africa’s USD 25m Series C round in 2019.
Starting commercial activities in 2015, PEG is the leading off-grid asset financing company in West Africa, distributing PAYG solar home technology to consumers who lack access to reliable electricity, most of them in rural areas. As of June 2020, PEG has served nearly 100 thousand households, employs over 490 full time staff and operates 80 service centers across Ghana, Ivory Coast, Senegal, and recently in Mali. The transaction consists in a top-up junior facility earmarked for Côte d’Ivoire. PEG is expected to have 750 FTE toward end of 2020 and to have more than 1000 direct sales agents active in the field.
At a glance
- Number of beneficiaries
- 775,175
- Annual output (MWh/y)
- 10495
- GHG avoidance (tCO2eq/y)
- 70875
Impact
- Beneficiary
- PEG Africa
- Financial instrument
- Junior debt
- Amount
- USD 1.5m (EUR 1.27m)
- Country
- Ivory Coast
- Technology
- Solar PV
- Business model
- SHS
- Year
- 2020
- Facility
- ElectriFI Ivory Coast Country Window