Les Soleils du Bénin
Period
2023
Country
Benin
Sector
Renewable energy
Financial facility
ElectriFI
Project overview
Générale du Solaire International and Africa
Renewable Energy System & Solution (“ARESS”) have developed a portfolio of 12 mini grids in Bénin. Both companies have teamed up with a financing partner, NEoT Offgrid Africa, to create “Les Soleils du Bénin”, a SPV in charge of building and operating the mini grids. The goal is to install 1,7MW of PV and 3MWh of battery,
supplying more than 5.000 homes and businesses with electricity. The total project costs of c. EUR 9m is partially financed by subsidies from the MCA-Benin II Offgrid Clean Energy Facility.
Funding objective
ElectriFi has approved a EUR 3.1m Senior Debt to Les Soleils du Bénin to complement the equity financing already provided by NEoT Offgrid Africa.
Investment rationale
The investment recommendation is supported by its additionality, a robust business plan, the local footprint of the EPC Contractor and Operator (ARESS), the expected impact and the catalytic impact of ElectriFi’s investment which is required to achieve a long-term
financing structure that is needed to support the deployment of such assets.
Key Indicators
Targeted impact
3.000 households
Financial Instrument
Senior Debt
Amount
EUR 3.1 million
Technology
Solar PV
Business model
Minigrid
Year
February 2003
