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    Reference: 20190132
    Release date: 8 April 2019

    Promoter – Financial Intermediary

    SOLAR WORKS MOZAMBIQUE LDA

    Location

    Description

    The project will finance the roll-out of off-grid solar energy systems in Mozambique and potentially other countries in Southern Sub-Saharan Africa.

    Objectives

    The operation aims deploying last mile distribution for underserved rural off-grid households and micro-entrepreneurs communities in Mozambique and to a lesser extent in Malawi The operation consists in the distribution, installation, and financing of Solar Home Systems (SHS) and devices in Southern Africa by the promoter. The project is expected to have significant positive social impact given that final beneficiaries are typically off-grid households and small commercial activities, which will be enabled to improve their quality of life and partially use the energy services for productive use and income generating activities.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    USD 10 million (EUR 9 million)

    Total cost (Approximate amount)

    USD 29 million (EUR 26 million)

    Environmental aspects

    The relatively small size of the household solar home systems, the multiple locations and the nature of the installation of solar powered systems will limit the potential negative environmental impacts of the operation. The due diligence will review the promoter's capacity, approach and procedures for ensuring that the operation is implemented in line with the Bank's environmental standards, notably for what concerns potential residual risks, such as e-waste and battery disposal/recycling, as well as client protection principles. The project is expected to be environmentally and socially sound. It will facilitate access to renewable energy for an unserved or underserved population and mitigate CO2 emissions from fossil energy sources currently used for lighting and electricity generation.

    Procurement

    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 4/12/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Malawi Mozambique Energy