The Dutch bank recently granted a €21 million loan to French green energy developer GreenYellow for the construction of a solar power plant in Nagréongo, Burkina Faso.
Greenlight Planet Inc is a startup focused on providing solar solutions for Africans. The startup has been able to reach 60,352,201 daily users providing 42.28 Megawatts of rooftop solar Installations and 14,675,937 metric tons of CO2 offset.
The funding will be given in local currency to help the company further deploy its solar home systems across sub-Saharan Africa.
The Dutch development finance institution speaking on the funding said that the funding will help Greenlight increase the access to electricity in Africa.
“Greenlight will provide access to electricity to people at the bottom of the pyramid. Increased access to energy contributes to household productivity, economic growth, and power small businesses,” FMO said.
Considered one of the largest suppliers of solar-powered home energy products in sub-Saharan Africa and South Asia, Greenlight claims to have supplied solar products to over 60 million rural consumers in more than 65 countries since its inception in 2009.