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EU Provides €15 Million to Renewable Energy Companies in Mozambique

EU Provides €15 Million to Renewable Energy Companies in Mozambique

The European Union (EU) launched this Wednesday, December 7, in Maputo, during the Business Conference on “Renewables in Mozambique”, the project “Country Window ElectriFI for Mozambique”, valued at around 15 million euros, whose aim is to increase access to energy in rural areas.

Financed by the European Development Fund and the “PROMOVE Energia” programme, managed by the EU Delegation to the Government of Mozambique, the project will allow the private sector to contribute to rural development through the electrification of the country.

a d v e r t i s e m e n t

According to the EU Ambassador in Mozambique, Antonino Maggiore, the “ElectriFI Country Window for Mozambique” programme will also allow the financing of ten projects dedicated to accelerate access to clean energy, in a sustainable and inclusive way.

“We are very pleased that Mozambique joins the ElectriFI family today, together with many other African countries. Of the 113 million euros of investments committed through the country windows, we are proud to say that 75% are for investment projects in sub-Saharan Africa,” explained Antonino Maggiore.

According to news portal Clubofmozambique.com, although Mozambique has just over 40 per cent of homes with access to electricity, it is still largely un-electrified.

The European diplomat said that “by joining this initiative, Mozambique and international investors will take advantage of the network of 15 European Development Finance Institutions (EDFI) of European Union member states, which have joined forces to better manage this initiative.

“This great opportunity will help channel liquidity from EDFIs and commercial lenders to the private sector in Mozambique,” he added.

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For his part, ElectriFI’s Senior Investment Manager, Corentin Billiet, emphasized that the “ElectriFI Country Window in Mozambique” results from strategic partnerships established under a Team Europe approach.

“By offering financing and assistance to renewable energy companies, we aim to contribute to electrification, job creation and climate mitigation efforts. We also intend to mobilise additional private investors to commit more than €25 million in these companies,” explained Corentin Billiet.

The Business Conference “Renewables in Mozambique 2022”, organised by the Lusophone Renewable Energy Association (ALER) and the Mozambican Renewable Energy Association (AMER), took place between 6 and 7 December at the Glória Hotel in the city of Maputo, and was attended by several investors from the energy sector and representatives of government companies.

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