January 25

The Beyond the Grid Fund for Africa Signs Its First Projects in Liberia

The two first agreements under the EUR 108 million facility have been signed with companies promoting energy access for low-income customers in the rural areas of Liberia: Mobile Power Limited and Lib Solar (Liberia) Limited. The total value of the contracts is EUR 2.9 million.

“We are very pleased to announce the first projects under BGFA by two innovative energy companies active in the market. The programme supports early-stage energy service companies to grow sustainably in rural communities and develop clean energy access within these communities. Since Liberia is an early-stage market for off-grid energy solutions, and in response to the immense financial challenges resulting from the COVID-19 crisis, these innovative companies qualify for launch-to-scale funding as part of our differentiated offer to energy service providers,” comments Ash Sharma, Vice President of Green Transition Special Funds Unit at Nefco and Head of Beyond the Grid Fund for Africa.

Photo courtesy of David Monje.

Source: MarketScreener (link opens in a new window)

energy access, innovation, renewable energy, scale