- Oikocredit is financing solar energy projects in Benin
- The project will provide electricity to about 40,000 households.
The Dutch finance company Oikocredit has approved USD1.5 million for a long-term financing facility for energy provider Weziza Benin. The facility will enable the company to connect about 40,000 people living in rural areas to solar power over the next ten years.
Siebren Wilschut, Oikocredit’s investment officer, noted that “with Oikocredit’s support, Weziza Benin will continue to scale up its social impact for the benefit of thousands of households.”
Weziza Benin, the Beninese subsidiary of West African solar mini-grid operator Energity Corp, is the second solar energy company to benefit from Oikocredit financing in Africa, after Baobab Plus Côte d’Ivoire in 2020.
The recent investment aims to strengthen the distribution of solar energy in West Africa. Therefore, the funds raised will be used to design, build and operate a renewable energy system based on solar mini-grids.
