Tuesday
April 19
2022

BGFA Finances $2.5 Million for the Distribution of Oolu’s Solar Kits

By Jean Marie Takouleu

The Beyond the Grid Fund for Africa (BGFA) is providing $2.5 million in funding to Oolu. The solar home systems provider will use the funds to expand its operations in rural areas of Burkina Faso.

Off-grid solar system provider Oolu is receiving support from the Beyond the Grid Fund for Africa (BGFA) for its operations in Burkina Faso. This multilateral funding mechanism is providing $2.5 million to Oolu for business development. In rural areas of Burkina Faso, the company installs solar home systems (SHS).

Like other solar kit providers operating in Africa, the company relies on pay-per-use to make it easier for rural households to purchase its stand-alone electricity access systems. The company also installs solar systems for commercial and industrial (C&I) customers. According to Oolu, the BGFA funding will accelerate the deployment of its electricity access solutions in the Centre, Boucle du Mouhoun, Cascades, Hauts Bassins, South West, Centre East, Centre West and East regions.

Photo courtesy of World Bank Photo Collection.

Source: Afrik21 (link opens in a new window)

Categories
Finance
Tags
business development, clean energy, electricity, global development, renewable energy, solar