A leader in off-grid solar platforms has struck a $5 million financing deal to supply electricity to 150,000 Rwandans.
BBOXX is currently supporting 250,000 Rwandans with its off-grid electricity technology and the new facility from Deutsche Asset Management’s Essential Capital Consortium will see that rise to 400,000.
Monica Keza, Managing Director of BBOXX Rwanda, said:“This deal proves global financial institutions are eager to partner to catalyse off-grid solar in Rwanda and East Africa more broadly. What we have done is not just unique structurally, it is unique for the entire industry.”
Off-grid energy systems are making an increasing contribution to UN Sustainable Development Goal number 7: to provide sustainable energy for all by 2030. Azuri Technologies is another company working in rural Africa, providing people with pay as you go off-grid solar energy – which can be used with a mobile phone. And flexible power is also offering a lifeline to areas affected by natural disasters.
