WeLight Madagascar’s access to energy initiative will receive €19 million in financing from the EIB, Triodos Investment Management and EDFI ElectriFI — the EU-funded Electrification Financing Initiative.

The Foundation for Clean Energy and Energy Inclusion in Africa (CEI Africa) has awarded a grant of 1.8 million dollars to WeLight. The aim is to electrify several rural communities in Mali using solar mini-grids.

The Universal Energy Facility (UEF), a results-based financing facility managed by Sustainable Energy for All (SEforALL), has reached a milestone

In 3 years, nearly 25,000 people have benefited from this rural electrification project. The project was carried out by the company Welight Madagascar, which relied heavily on solar energy.

Launching Works on 120 New Mini-Grids in Madagascar

Antananarivo, September 19th, 2023 – Following a successful funding round earlier this year, WeLight today celebrates the inauguration of its very first site of a new phase that includes over 120 planned villages in Madagascar. This opening signifies the onset of an ambitious project stretching from September 2023 to June 2024, showcasing WeLight’s speed and efficiency in fulfilling its commitments.

The momentum between the fundraising in the first quarter of 2023 and the work commencement in this period stands testament to WeLight’s resolve and operational efficacy.

This grand-scale project was made possible by mobilizing €19 million from esteemed financial partners such as the European Investment Bank, Triodos Investment Management, and EDFI ElectriFI. They join WeLight’s longstanding shareholders, AXIAN Group, Sagemcom, and Norfund, who also reaffirmed their trust by injecting an additional €9 million in the form of shareholder loans.