BENIN: Oikocredit invests $1.4 million in Weziza’s solar mini-grids

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BENIN: Oikocredit invests $1.4 million in Weziza© Energicity's solar mini-grids

In Benin, solar mini-grid provider Weziza is receiving a $1.4 million investment to implement a rural electrification project. The financing is provided by Dutch impact investor Oikocredit.

Weziza is supported by Oikocredit in its activities. The Netherlands-based investment company is validating an investment of $1.4 million for the implementation of a rural electrification project. Led by Energicity, Weziza’s parent company, the project aims to connect 21 communities to a power grid.

Weziza will rely on renewable energies, particularly solar energy. Specifically, small solar power plants will power small electrical networks that will connect rural households. “Renewable energy mini-grids have enormous potential to meet the needs of millions of people currently experiencing energy poverty, to support productive uses of electricity, and to stimulate the development of rural communities. With Oikocredit’s support, Weziza Benin will continue to increase its social impact for the benefit of thousands of households,” says Siebren Wilschut, Oikocredit’s investment manager.

Read also- BENIN: the capacity of the Illoulofin solar power plant will increase from 25 to 50 MWp

Weziza Benin’s project will provide access to electricity to 40,000 people mainly in the regions of Couffo, Zou and Collines. The project has been selected in a competitive process by the Government of Benin and the Millennium Challenge Association Benin II to electrify households via solar power by June 2022.

As such, Weziza Benin is also receiving funding from the Benin Rural Electrification and Energy Management Agency (ABERME) and the United States government’s Millennium Challenge Corporation (MCC). In 2019, Weziza Benin had committed to deploying approximately 2 MWp of solar capacity to meet the growing demand of the communities it serves.

Jean Marie Takouleu

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