RWANDA: Triodos and OikoCredit finance $10m for Arc’s solar mini-grids

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RWANDA: Triodos and OikoCredit finance $10m for Arc's solar mini-grids ©Arc Power

In Rwanda, electricity access provider Arc Power has secured $10 million in financing for its electrification plan. It is being implemented mainly in rural communities.

Arc Power has funds to continue implementing its clean energy expansion plan in Rwanda. The London, UK-based company has just secured $10 million in funding from Dutch investment company Triodos Investment Management and its compatriot Oikocredit.

The funding will support the development of Arc Power’s activities in Rwanda, through its clean energy expansion plan. In its first phase, the company led by Karl Boyce aims to provide access to electricity for 100,000 people, or more than 30,000 Rwandan households. Arc Power “not only provides reliable electricity, but also helps to reduce greenhouse gas (GHG) emissions”, explains Marius Groenenberg, Principal Investment Manager at Triodos.

Read also- RWANDA: the revolution of solar-powered multiservice centres in rural areas

The company installs off-grid solar systems to power households, mainly in rural communities. This approach is in line with the policy currently being implemented in Rwanda, which aims to accelerate electrification while reducing emissions linked to energy production.

According to the state-owned Rwanda Energy Group (REG), at the end of September 2023, the cumulative (electricity) connectivity rate of households in Rwanda was 74.40%, of which 54.19% are connected to the national grid and 20.21% have access to off-grid systems, mainly solar.

Jean Marie Takouleu

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