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OPIC invests $10 million in off-grid solar in Chad

ImpactAlpha, March 12 – The land-locked central African country of Chad is one of the poorest—and most energy poor—countries in the world. Only 4% of Chad’s 15 million people have access to electricity. Chad’s installed energy capacity is so low the figure doesn’t register in U.S. Energy Information Administration statistical database.

OPIC is extending $10 million in debt to support the Alternaprod Tchad project, which will distribute and install solar kits and appliances for households, small businesses and community institutions in Chad. It is OPIC’s first project in Chad and 33rd as part of the U.S.-led Power Africa initiative, which seeks to facilitate 60 million new electricity connections on the continent. 

OPIC also claims the Chad project as part of its $350 million 2X Women’s initiative because women comprise half of FinLux’s workforce.

In September, OPIC committed $25 million to solar finance company SunFunder as part of its $42.5 million debt raise.

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