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Power Africa, through the United States Agency for International Development (USAID), awarded grants totaling $1.2 million to mini-grid developers lighting up more than 5,200 households and businesses in rural Madagascar. The winners are: Autarsys Madagascar, Henri Fraise Fils & Cie, and Hydro Ingénierie Etudes et Réalisations (HIER).
Today the European Investment Bank (EIB), Triodos Investment Management and EDFIElectriFI announced their new collective investment of €19million to support WeLight Madagascar’s €28million project in Madagascar. The investment will enable WeLight to build and develop solar mini-grids to supply electricity to over 120 villages in Madagascar which currently have no access to the electricity grid.
WeLight existing shareholders AXIANGroup, a Pan-African group specialising in five sectors with high growth potential namely in real estate, telecoms, financial services, energy and open innovation; Sagemcom, a French industrial group and world leader in high added-value communicating terminals and energy solutions; and Norfund, the Norwegian investment fund for developing countries, cumulatively bring the remaining €9million in the form of shareholder loans.
The new mini-grids will provide residents in off-grid rural villages access to clean and affordable energy. Alongside homes and businesses, the project will benefit schools, health centres and public spaces, strengthening the local economy and improving health, security and education.
Made up of a solar power plant and energy storage system, a distribution line and a meter for each customer, a mini-grid can supply electricity 24 hours a day, seven days a week. The 120 additional villages cover 17 regions and were selected thanks to outstanding work with Madagascar’s Ministry of Energy and the Agency for the Development of Rural Electrification (ADER).
At present around a quarter of the population in Madagascar has access to electricity. Off-grid solar technology has proven to be a fast and effective solution to accelerate economic growth and sustainable development in regions where connection to the grid is still challenging.
Romain de Villeneuve, Chief Executive Officer of WeLight Madagascar, said, “This new project will significantly improve rural electrification in Madagascar. It will also positively impact hundreds of thousands of people, greatly enhancing living standards, the local economy and people’s well-being. WeLight has already deployed its solutions in more than 40 rural communities. The EIB, ElectriFI and Triodos, all of them financial experts in this industry for Africa, are now partnering with us to cover 120 additional villages. This is an encouraging vote of confidence in the relevance of WeLight solutions to answer the vital electrification needs of deprived communities.”
Thanks to the support of these partners and with AXIANGroup, Sagemcom and Norfund as its shareholders, and through the operational excellence developed to serve customers, WeLight will pursue its growth in Madagascar and in other countries in Sub-Saharan Africa where such types of needs are still not answered.
EIB Vice-President Ambroise Fayolle remarked, “This project continues the EIB’s longstanding backing of off-grid solar energy in rural Africa, following successful projects in Benin, Chad, the Comoro Islands, Mozambique and Uganda. I am very happy that we can now implement such a project in Madagascar. Through these projects, the EIB aims to promote the scaling-up of the off-grid solar power model as part of its commitment to fighting climate change while fostering economic development and real improvements to people’s daily lives.”
Fadoua Boudiba, Regional Manager Africa and Middle East at Triodos Investment Management, explained, “The impact of mini-grid solutions is multifaceted. They are crucial in providing low-income households access to clean, affordable and reliable electricity, and they boost socioeconomic development for rural communities. The close collaboration between WeLight, committed shareholders and like-minded impact investors is an essential ingredient to enhance access to energy in rural communities. As such, we are extremely pleased to participate in this impactful initiative from WeLight Madagascar through our investment funds, Triodos Groenfonds, Hivos-Triodos Fund and Triodos Emerging Markets Renewables Energy Fund.”
Isabelle Delattre Burger, Ambassador of the European Union (EU) to Madagascar, commented, “This project is a great example of the positive impact of Team Europe to improve daily life for people in Madagascar. Access to affordable and clean energy for all is an important Sustainable Development Goal and contributes to the green and just transition supported by the EU’s Global Gateway strategy.”
The European Investment Bank (EIB) is the world’s largest multilateral financial institution and one of the leading providers of climate finance worldwide. Since 1970, it has lent a total of €893million to support long-term investments in Madagascar.
The EIB has allocated €6.6billion since 2002 to financing solar projects globally, with 50% going to emerging and developing economies. This project continues the EIB’s backing of off-grid solar energy in rural Africa, following support for similar projects across the continent — for example, watch the video of a project supported by the EIB in Uganda.
EIBGlobalis the EIB Group's new, specialised arm devoted to increasing the impact of international partnerships and development finance. It is designed to foster strong, focused partnership withinTeamEurope, alongside fellow development finance institutions and civil society. EIBGlobal brings the Group closer to local people, companies and institutionsthrough our offices around the world.
https://twitter /EIBGlobal
About WeLight Madagascar
WeLight provides clean, affordable, reliable and productive energy to people in remote rural areas of Madagascar and Sub-Saharan Africa. WeLight was born out of the desire of three leading economic players, AXIANGroup, Sagemcom and Norfund, with a strong expertise in Africa, to develop and roll out renewable energy solutions across the continent. WeLight is committed to providing electricity to isolated villages and thus contributing to their economic development. WeLight currently operates 40 mini-grids representing 9000 electrified households.
EDFIElectriFI is an EU-funded impact investment facility, financing early-stage private companies and projects, focusing on new/improved electricity connections as well as on generation capacity from sustainable energy sources in emerging markets. EDFIElectriFI is managed by the EDFI Management Company, a company established by the 15 European Development Finance Institutions (DFIs). https://
About Triodos Investment Management
In a country where only 15% of the rural population has access to electricity, WeLight brings clean and affordable energy to rural homes with its mini-grid systems.
The European Investment Bank (EIB) today announced the disbursement of a €10 million loan to WeLight Madagascar for the development and construction of solar mini-grids in currently unconnected villages.
The European Investment Bank (EIB) confirms the recent disbursement of €73.6 million (approximately MGA 343 billion) to the Malagasy Road Agency for the ongoing work on the RN13 and RN6 highways in Madagascar.
Households, smallholders and entrepreneurs in remote locations across Benin will be able to access reliable and cheap electricity for the first time under a new off-grid solar scheme agreed between leading solar energy company ENGIE Energy Access and the European Investment Bank, one of the world''s largest financiers of renewable energy.
The Universal Energy Facility (UEF), a results-based financing facility managed by Sustainable Energy for All (SEforALL), has reached a milestone – it verified its first set of electricity connections: 542 connections to mini-grids across eight communities in Madagascar. With that, the facility has also disbursed its first grant, with mini-grid developer WeLight receiving USD 592 per connection.
"This is an important milestone in the history of the Universal Energy Facility," said Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy.
"These connections in the communities of Ambovonomby, Mangindrano, Marovato, Ambohitoaka, Anjozoromadosy, Ambodisaina, Andohajango and Marotandrano in Madagascar are proof that results-based finance delivers reliable and affordable electricity access at speed and scale to populations most in need."
Launched in October 2020, the UEF is a multi-donor facility that provides grants to eligible organizations once the connections they establish have been verified. Under this results-based model, companies are incentivized to build at speed and scale – in contrast to a traditional procurement model for financing energy projects.
In its initial wave, the UEF is supporting mini-grid development in Benin, Madagascar, and Sierra Leone. The initial 542 connections verified in Madagascar will provide approximately 2,170 people with electricity, while also powering important community services and businesses.
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