Project overview
Sunkofa is a young developer and operator of rural mini-grids in sub-Saharan Africa. Sunkofa’s most advanced project is located in Benin where the company is looking to build 40 mini-grids supported by a grant from the Millennium Challenge Corporation. In addition to Benin, Sunkofa has a strong pipeline of projects in West and Southern Africa.
Funding objective
EDFI ElectriFI has committed EUR 1.5 m in equity to finance Sunkofa’s corporate needs, as well as a portion of the construction costs in Benin and provide funding for further mini-grid development.
Investment rationale
EDFI ElectriFI funding will contribute to the much needed development capital in the mini-grid sector. ElectriFI investment will provide strong additionality due to small ticket size and early stage of the company.
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Key Indicators
Financial Instrument
Equity and subordinated debt
Amount
EUR 1.5 million
Year
November 2021
Targeted impact
