- The Electrification Finance Initiative (ElectriFI), an European Union (EU) funded programme, is expanding into Africa. It opened a country window in Mozambique to support access to electricity via renewable energy.
- ElectriFi’s 15 million from the European Development Fund (EDF) under the “Promove Energia” programme will focus on start-ups with a budget of €500,000 for technical support.
The Electrification Finance Initiative (ElectriFI), an European Union (EU) funded programme, is expanding into Africa. It opened a country window in Mozambique to support access to electricity via renewable energy. ElectriFi, finances start-up companies and private projects that provide access to electricity while increasing the installed capacity of the programme’s beneficiary countries.
ElectriFi’s 15 million from the European Development Fund (EDF) under the “Promove Energia” programme managed by the EU Delegation with the Government of Mozambique will focus on start-ups with a budget of €500,000 for technical support. According to the EU Ambassador to Mozambique, Antonino Maggiore, “Of the €113 million of investments committed through the national windows, we are proud to say that 75% are for investment projects in sub-Saharan Africa! By joining this initiative, Mozambique, the domestic private sector and international investors will benefit from the network of 15 European Development Finance Institutions (EDFIs) from EU Member States, which have joined forces and are jointly managing this initiative”.
The East African country has an electricity access rate of only 13% in rural areas and 57% in urban areas, according to Power Africa. The Mozambican government wants to achieve universal access to electricity by 2030 by focusing on off-grid solutions and connection to Mozambique’s national electricity grid.