Benin: EDFI ElectriFI will finance solar home systems with €1.5 million

(Agence Ecofin) - Benin, like all the countries of sub-Saharan Africa, relies on solar solutions for the electrification of populations. It is used through private companies supported by partners, including EDFI ElectriFI.

EDFI ElectriFI plans to sign a new contract for a solar home system supply project in Benin. This contract should allow him to invest €1.5 million in the MyJouleBox project. The objective is to create 31,000 new connections to ensure a sustainable and reliable source of energy for 155,000 people.

The MyJouleBox project provides solar-powered electricity to businesses, individuals and small businesses in Africa. The funding from EDFI ElectriFI will enable the French startup (MyJouleBox) to recruit 200 new employees to install photovoltaic solutions in Benin.

According to World Bank statistics, the country has an electrification rate of 43.1%. National data mentions a rate in urban areas of 62% against 8% in rural areas. MyJouleBox has already sold more than 27,000 systems for a total installed capacity of approximately 1.3 MW since 2012. The startup plans to strengthen its position in the Beninese market while also targeting the Burkinabe and Togolese markets.

EDFI ElectriFI is managed by EDFI Management Company. It finances private companies and project initiatives. Its investments focus on electrical connections and the production of energy from sustainable sources. By 2030, ElectriFI aims to accelerate the development of companies that provide thousands of people with access to clean energy.

Gwladys Johnson Akinocho

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