ImpactAlpha, March 9 — Off Grid Electricity Fund, launched by the government of Haiti in 2019 with backing from the World Bank, aims to electrify 200,000 households over the next decade. The $17 million renewable energy fund has invested in Alina Eneji, Palmis Eneji and Ekotek Energy to provide affordable solar power systems for households and businesses in rural areas, where electrification rates are as low as 5%.
Clean energy access
Solengy, which has run a solar products and installation business in Port-au-Prince since 2017, will use the loan to provide lease-to-own financing in rural areas, “allowing commercial and residential customers to install solar power systems, using clean and sustainable power while lowering their monthly electricity costs,” said founder Rowolson Kuhn. USAID’s Haiti INVEST program facilitated the deal.
Haiti’s woes
Haiti has yet to recover from last year’s hits, including the assassination of President Jovenel Moise and an earthquake that devastated the country’s southern region (for context, see “Can investors help Haiti build back better this time?”). In the absence of strong political leadership, armed gangs have expanded their grip, causing a spike in violence and insecurity.
