A vast solar power farm in Africa, advancing renewable energy initiatives to promote sustainable development in the region.
WeLight, Africa’s largest operator of solar mini-grids, has secured about $31 million in new equity funding led by the International Finance Corporation (IFC) and its founding shareholders to accelerate expansion across the continent. The company currently operates nearly 190 mini-grids, providing electricity for more than 800,000 people in Madagascar and Mali. The company said the funding would support its next growth phase and broaden its geographic reach. The new funds will be used to support its expansion into Nigeria and the Democratic Republic of Congo, two countries with some of the world’s largest electricity access deficits. The investment aligns with Mission 300, a World Bank and African Development Bank initiative to connect 300 million Africans to electricity by 2030 through distributed renewable energy, including mini-grids and home solar systems.
Bloomberg