By Faridat Salifu
The Electrification Financing Initiative (EDFI ElectriFI) has disbursed a €4million loan to E-Long Life Energies Nouvelles (FinEu Ellen) for the distribution of large-scale solar home systems across the Sahel region.
Despite prevailing challenges in the Sahel, including security concerns and the impact of the Covid-19 pandemic, EDFI ElectriFI remains committed to advancing access to electricity in the region.
The recently released $1.5 million constitutes the second tranche of the pledged €4 million loan, following the initial disbursement of €2.5 million in March 2023.
Vincent Monteux, Managing Director of FinEU Ellen, has expressed enthusiasm for the crucial role this investment plays in expanding electricity access for productive use in rural areas of Mali and beyond, emphasizing the positive impacts on vulnerable populations.
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Additionally, with EDFI ElectriFI’s investment, FinEu Ellen aims to distribute 2,400 domestic solar systems, ultimately reaching 20,000 customers in rural and isolated areas.
Throughout the challenging period, FinEu Ellen has persevered in its operations, deploying 1,940 solar kits in Mali with the support of shareholders who have advanced $4 million.
The investment from EDFI ElectriFI will not only aid in the repayment of the shareholder’s loan but also drive progress in deploying sustainable energy solutions in the Sahel region.
In addition to its efforts in Mali, FinEu Ellen is actively contributing to the electrification of the Sahel by providing large-scale solar home systems with capacities of up to 5 kW, extending access to electricity for households, schools, health centers, and small businesses in Niger.
This initiative affirms the commitment to address energy challenges in the Sahel and underscores the importance of sustainable and impactful investments in the region.
