UpOwa Cameroun SASU
- Country
- Cameroon
- Technology
- Solar PV
- Business model
- SHS
EDFI ElectriFI invest EUR 3m to develop off-grid energy company UpOwa’s expansion in Cameroon, providing access to electricity to more than 250,000 people while creating 250 jobs.
Contract signature date: June 2020
Total ElectriFI financing: EUR 3m
Environmental and Social Category: C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
ElectriFI contracted a EUR 3 million debt loan to develop UpOwa expansion in Cameroon, via further sales and the diversification of product portfolio in the Center, West, Littoral, South, East and Adamawa regions. The company’s customer base is expected to grow over 50,000 active customers by 2022, meaning providing access to electricity to more than 250,000 people while creating 250 jobs
UpOwa is an off-grid energy company distributing solar home systems using pay-as-you-go technology and is the first mover and currently the leader in Cameroon. UpOwa operates a lease-to-own model where the buyer pays an upfront fee and then a monthly leasing fee based on an 18 to 24-month contract period.
- Number of beneficiaries
- 291,500
- Annual output (MWh/y)
- 1002
- GHG avoidance (tCO2eq/y)
- 7539
Impact
- Beneficiary
- UpOwa Cameroun
- Financing instrument
- Debt
- Amount
- EUR 3m
- Countries
- Cameroon
- Technology
- Solar PV
- Business Model
- Solar Home Systems
- Year
- 2020
- Facility
- ElectriFI Global