- Engie and Energy Web plans to launch a decentralised finance crowdfunding platform for clean energy projects in Africa.
- This platform aims to unlock cryptocurrency financing in the clean energy space in Africa.
- The platform will facilitate financing via Energy Web’s native token (EWT)
Engie Energy Access has partnered with Energy Web to launch “DeFi”, a decentralised financing platform that will facilitate the deployment of solar mini-grids and solar kits in sub-Saharan Africa via electronic money.
Engie Energy Access has partnered with Energy Web to launch a decentralised financing crowdfunding platform, “DeFi”, to facilitate the rollout of solar mini-grids and solar kits in sub-Saharan Africa. The platform which Energy Web will develop will integrate Energy Web’s software with Engie’s platform.
“DeFi” will allow investors to finance the installation of clean energy systems in households across sub-Saharan Africa. Engie Energy Access will distribute Off-grid systems via its companies, Fenix International and Engie Mobisol for solar home systems and Engie PowerCorner for containerised solar systems.
Investors will utilise Energy Web’s native token (EWT) in exchange for a fixed interest rate. Engie believes that this will unlock capital from the global cryptocurrency market, enabling significant new capital inflow into Africa’s clean energy sector.
Energy Web notes that the community’s fund will support the first phase to mitigate risk for all parties involved. In the second phase, Energy Web and Engie Energy Access will work together to provide decentralised unique identifiers (DID) to each of the rooftop panels and solar devices deployed by Engie. This will enable credits to be remotely sent to devices to support electricity access.