ImpactAlpha, January 20 — More than half of Haiti’s population lack access to reliable electricity. The Haitian government established the Off Grid Electricity Fund to electrify 200,000 households in Haiti within 10 years.
The fund has provided a $500,000 working capital loan to Energy Systems Group, which sells low-cost solar products, such as lanterns and solar home systems, to off-grid households in Haiti under the brand Ekotek Energy.
The company aims to provide electricity to more than 140,000 Haitian households by 2024.
The Off Grid Electricity fund is managed by Luxembourg-based Bamboo Capital Partners and Fonds de Développement Industriel, or FDI, a Haitian government-led development financial institution, and backed by the World Bank, the Clean Technology Fund and the Climate Investment Funds.
FDI’s Laurent Dalencour said the financing would enable Ekotek to offer longer-lasting products.