Solarworks!
- Country
- Mozambique
- Technology
- Solar PV
- Business model
- SHS
ElectriFI has signed a USD 4m debt facility with SolarWorks!, a leading Pay-As-You-Go solar home system and energy services provider for expansion in Southern Africa.
Publication date: March 2019
Total ElectriFI financing: USD 4M
Environmental and Social Category*: C
*(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
EDFI ElectriFI committed USD 4 million to provide finance for pay-as-you-go solar installations in more than 100,000 homes over the next two years in Southern Africa.
SolarWorks! is the leading pay-as-you-go energy provider to off-grid homes in Mozambique. To date the company has connected well over 15,000 homes in Mozambique to affordable, safe and clean energy. Its predominantly low-income customer base is accessing lighting, phone charging, radio and TV on monthly mobile money payment plans that are less than the typical cost of kerosene. 95% of the company’s employees are from the countries it operates in and gender balance is a strategic compnoent of its HR strategy.
- Number of beneficiaries
- 600,000
- Annual output (MWh/y)
- 1,800
- GHG avoidance (tCO2eq/y)
- 14,451
Impact
- Beneficiary
- SolarWorks!
- Financial instrument
- Debt
- Amount
- USD 4m
- Country
- Mozambique
- Technology
- Solar PV
- Business Model
- Solar Home Systems
- Year
- 2019
- Facility
- ElectriFI global