RWANDA: Triodos and OikoCredit finance $10 million for Arc solar mini-grids
In Rwanda, electricity access provider Arc Power obtains $10 million in funding for its electrification plan. It is implemented mainly within rural communities.
Arc Power has funds available for the continued implementation of its clean energy expansion plan in Rwanda. The London, UK-based company has just secured $10 million in funding from Dutch investment firm Triodos Investment Management and its compatriot Oikocredit.
The funding will support the development of Arc Power's activities in Rwanda, through its clean energy expansion plan. In its first phase, the company led by Karl Boyce wants to provide access to electricity to 100,000 people, or more than 30,000 Rwandan households. Arc Power “not only provides reliable electricity, but also contributes to the reduction of greenhouse gas (GHG) emissions ,” explains Marius Groenenberg, Principal Investment Manager at Triodos.
The company installs off-grid solar systems to power households, primarily in rural communities. This approach corresponds to the policy currently implemented in Rwanda, aiming to accelerate electrification while reducing emissions linked to energy production.
According to the state-owned Rwanda Energy Group (REG), as of the end of September 2023, the cumulative household (electric) connectivity rate in Rwanda was 74.40%, of which 54.19% are connected to the national grid. and 20.21% have access to off-grid systems, primarily solar.
