Benin/More than 600,000 people in Benin to be connected to electricity

The European Investment Bank (EIB) will provide a €10 million loan to Engie Energy Access for the deployment of high quality solar home installations in Benin. The loan agreement was signed on the sidelines of the Africa Energy Forum (AEF) which opened on Tuesday 21 June 2022 in Brussels, Belgium.

Engie Energy Access is receiving a €10 million loan for a project to deploy high quality solar home installations in rural areas of Benin. This loan from the European Investment Bank (EIB) will impact 643,000 people. "More than half a million people in Benin will be connected to electricity for the first time, making it easier for them to communicate, light and cook.More than half a million people in Benin will be connected to electricity for the first time, making it easier for them to communicate, light up and cook," said Ambroise Fayolle, vice president of the European Investment Bank. This deployment of solar home systems, she continued, will "reduce the use of kerosene, charcoal, candles and generators, thereby reducing the need for electricity.This deployment of solar home systems, she continued, will "reduce the use of kerosene, charcoal, candles and generators, which will reduce pollution, limit the risk of accidents and help families save money.

"Fostering sustainable economic and social development through off-grid solar power is critical to Africa's future and to mitigating the impact of climate change.Fostering sustainable economic and social development through off-grid solar power is essential for Africa's future and for mitigating the impact of global energy shocks, and the EIB is delighted to support this project in Benin," added Ambroise Fayolle.

Engie Energy Access, a subsidiary of the French group Engie, specializes in innovative off-grid solar solutions for households. 107,000 solar home systems will be installed in rural areas of Benin. The system includes the solar panels and the electricity is stored on battery. A "pay as you go" system is in place that allows households to pay off the cost of the equipment in stages.

"Our new partnership with the European Investment Bank in Benin will provide ultra-affordable PAYGO solutions to villagers across the country, giving them access to clean solar energy and financial empowerment. With its integrated and sustainable business model, ENGIE Energy Access now serves 1.5 million customers, impacting more than 7 million lives in sub-Saharan Africa and reaching people in low-income and rural communities.communities or rural areas that are often excluded from the economy," said Gillian-Alexandre Huart, CEO of ENGIE Energy Access.

For the EU Ambassador to Benin, Sylvia Hartleif, "this new cooperation initiative between the European Investment Bank and ENGIE shows the added value of the EU's commitment to the development of renewable energy.shows the added value of European engagement with our African partners to transform energy access and fight climate change". "The exploitation of renewable energy through private sector engagement and innovative off-grid solar technology, combined with productive use of electricity in rural areas, is a direct and concrete result of the European Union's Green Deal for Africa," he added.

The EUR 10 million loan to Engie Energy Access is part of the EIB's streamlined support for off-grid energy investments in Africa. Benin is the sixth country to benefit from this support.

Source: www.24haubenin.bj/