- Solar PV
- Business model
EDFI ElectriFI contributed to a EUR 19m debt facility to WeLight Madagascar, to finance the construction and operations of 120+ minigrids in the country. The EIB and Triodos IM are also part of the transaction.
Contract signature date: January 2023
Total ElectriFI financing: USD 4.5m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
EDFI ElectriFI invested EUR 4.5 million in senior debt alongside co-investors to fund WeLight, a developer of sustainable energy solution for rural population, with a proven business model, reaching already 35 villages today, leading to cross fertilization of new economic activities in the villages. The financing will support the development, construction and operations of 118 new solar PV mini-grids in Madagascar.
Learn more on: https://www.welight-africa.com/