Engie relies on participatory financing to deploy solar energy
15 Jun 2022

Read the full article here at Afrik21

Engie Energy Access, the subsidiary of the French group Engie specialising in electrification via autonomous solar systems, is launching a participatory financing platform for sub-Saharan Africa. This project, implemented in partnership with the Energy Web organisation, aims to accelerate the deployment of off-grid solar energy.

One of the obstacles to accelerating electrification via solar energy in Africa is the lack of financing. Engie Energy Access wants to solve this equation by relying on participatory financing. The subsidiary of the French group Engie, which specialises in off-grid solar energy electrification, has joined forces with the non-governmental organisation (NGO) Energy Web (based in Zug, Switzerland) to launch a participatory financing platform.

Crowdfund for Solar, as it is called, is a decentralised financing platform (DeFI) whose aim is to install solar systems in villages that are not connected to a power grid. To do this, the platform, hosted on Energy Web’s open-source infrastructure, allows investors to stake Energy Web Tokens (EWT) in exchange for a fixed income. The main beneficiaries of this digital solution include schools, households and small businesses that will be able to acquire solar power generation equipment through the pay-as-you-go system.