Sunkofa Energy

Period

2021

Country

Benin

Sector

Renewable energy

Financial facility

ElectriFI

ElectriFI invested EUR 1.5m in Sunkofa Energy, an innovative company providing energy services through smart mini-grids in Benin. EUR 0.8m is funded through the ElectriFI Country Window for Benin while the remaining EUR 0.7m are financed via the Global Facility.

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.

EDFI ElectriFI EUR 1.5 m equity investment will finance Sunkofa’s corporate needs, as well as a portion of the construction costs in Benin and provide funding for further mini-grid development. 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.

Funding objective

EDFI ElectriFI EUR 1.5M equity investment will 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.