(Ecofin Agency) – CEI Africa is a one-stop shop for mini-grid developers and off-grid energy companies, offering a range of financial instruments and technical assistance. It recently released $5.6 million in grants for mini-grids in Africa.
The Foundation for Clean Energy and Energy Inclusion in Africa (CEI Africa) has received final approval from its investment committee to invest in MPower Ventures AG (MPower) on the Republic crowdfunding platform, investing up to 100% of funds raised (capped at 750,000 euros).
« At MPower, we believe that solar energy, combined with financing solutions, is one of the most effective ways to boost economic development in Sub-Saharan Africa and combat energy poverty. We are delighted with the trust and support of CEI Africa and look forward to working togethersaid Manuel Seiffe, co-founder and CEO of MPower.
This contribution from CEI Africa will enable MPower to implement its growth strategy which is based on three pillars, namely: the expansion of the distributor network, the diversification of its product portfolio and finally the improvement of its financing offers. .
MPower’s innovative approach of combining energy and financial offerings to bridge the energy gap in underserved markets aligns perfectly with CEI Africa’s mission to combat energy poverty and promote clean energy in sub-Saharan Africa. where the needs are still immense.
Abdullah Diop
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07/31/2024 – Green mini-grids in Africa: CEI Africa releases $5.6 million in subsidies
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