The Beyond the Grid Fund for Africa (BGFA) is providing $2.5 million in funding to Oolu. The solar home systems provider will use the funds to expand its operations in rural areas of Burkina Faso.
Off-grid solar system provider Oolu is receiving support from the Beyond the Grid Fund for Africa (BGFA) for its operations in Burkina Faso. This multilateral funding mechanism is providing $2.5 million to Oolu for business development. In rural areas of Burkina Faso, the company installs solar home systems (SHS).
Like other solar kit providers operating in Africa, the company relies on pay-per-use to make it easier for rural households to purchase its stand-alone electricity access systems. The company also installs solar systems for commercial and industrial (C&I) customers. According to Oolu, the BGFA funding will accelerate the deployment of its electricity access solutions in the Centre, Boucle du Mouhoun, Cascades, Hauts Bassins, South West, Centre East, Centre West and East regions.
Electrification of 28,000 rural households
At the same time, the company, which has been operating in Burkina Faso since 2018, wants to expand its activities in four additional regions. The BGFA funding will thus enable the implementation of Oolu’s project to electrify 28,000 rural households.
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“We are very pleased to announce our first project in Burkina Faso, which will support access to clean energy solutions in several regions of the country and is expected to benefit more than 155,000 people,” says Dennis Hamro-Drotz, the senior program manager at Nordic Environment Finance Corporation (NEFCO), which manages BGFA.
Oolu’s project is expected to run for four years and also aims to provide clean electricity to 560 businesses and institutions such as schools and clinics. “More than 60% of Burkina Faso’s young and dynamic population does not have access to electricity. The private sector plays an important role in helping the country achieve its ambitions, including access to sustainable energy. Mobilizing financing through innovative mechanisms such as the BGFA will help develop affordable and sustainable energy solutions in the country,” says Maria Sargren, Sweden’s ambassador to Burkina Faso. The West African country has an electricity access rate of only 20% according to Power Africa.
Jean Marie Takouleu