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The EU has provided funds for the development of clean energy development in Sub Saharan Africa.
- The funds will be disbursed among three companies operating in Tanzania, Uganda and Benin.
- Funds will provide solar lights for fishers in Tanzania and Uganda and aid in the roll-out of mini-grid and solar home systems in Benin.
The European Union has provided a €4.5 million funding for clean energy projects in Africa. As part of this programme, small-scale commercial fishers in Tanzania and Uganda will be supplied with solar-powered lights. The European Union-funded Electrification Financing Initiative (ElectriFI) will split the money between three solar companies, Tanzanian company Simusolar, the French companies Sunkofa and Myjoulebox.
Simusolar will finance affordable solar-powered lights and water pumps for fishers and small-scale farmers in Tanzania and Uganda. The project is expected to benefit 27,000 small scale enterprises.
Read also: African Renewable Energy Sector to Receive €82m boost from the EU
Sunkofa will finance the development of 40 mini-grids in Benin. The company will partner with WindGen Power USA, to install small scale solar and wind power plants in the country. The projects are part of several projects awarded by U.S. Congress foreign aid agency Millennium Challenge Corporation last summer. The project is expected to be completed over the next 12 months. The company will use the remaining funds to develop other mini-grid projects in sub-Saharan Africa.
Myjoulebox intends to add 31,000 new electricity connections for 155,000 consumers in Benin. The company also intends to expand its offering and coverage area as it is looking to enter the Togo and Burkina Faso and Senegal markets.
The 5-year old €215 million ElectriFI fund has 33 portfolio investments devoting about €60 million to projects in Africa, Asia, and South America.