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Oikocredit invests € 5 million in Ecoligo to support the growth of commercial and industrial solar energy in Africa

Oikocredit invests € 5 million in Ecoligo to support the growth of commercial and industrial solar energy in Africa

25 January 2022

With this investment, Ecoligo will be able to expand and offer its solar-as-a-service solutions to more small and medium enterprises (SMEs) over the next 10 years

Amersfoort, the Netherlands – Social impact investor Oikocredit is providing a loan of € 5 million to Ecoligo, a provider of “solar-as-a-service” solutions for commercial and industrial businesses in emerging markets.

With Oikocredit's support, Ecoligo will be able to provide around 15 companies and organisations in Ghana and Kenya with both access to clean energy and the ability to benefit from significant cost savings.

Since its inception in 2016, Ecoligo has been a pioneer in global energy transition and has offered its solar-as-a-service solutions to clients in emerging markets around the world. It has installed and commissioned 58 projects to date, for a total of 19.2 MW (megawatts), supporting over 41 businesses and non-governmental organisations (NGOs) in reducing their CO2 emissions while also making significant cost savings.A further 71 installations with a capacity of 41.7 MW have also been signed for development.

Markus Schwaninger, CFO at Ecoligo, said: “It is a great pleasure to work with such an esteemed and renowned partner as Oikocredit who shares our mission. Thanks to their support, we have been able to scaleup our operations in sub-Saharan Africa and to bring more solar projects to life than ever before, allowing us to create meaningful change. We are looking forward to creating more social impact together with Oikocredit”.

Siebren Wilschut, Investment Officer at Oikocredit, said: "We're delighted to support Ecoligo, a rising star in the commercial and industrial sector, in their expansion to ensure access to clean energy. With Oikocredit’s support, Ecoligo will continue to scaleup and increase its social impact to support SMEs and NGOs. With significant cost savings, SMEs and NGOs will be able to secure more jobs in local communities at the same time as reducing their CO2 footprint".

About Ecoligo

Ecoligo is here to save the planet by leading the clean energy revolution in emerging markets with solar energy solutions. These fully-financed “solar-as-a-service” solutions do not only allow their customers to profit from significant cost savings, but enable them to grow sustainably. By providing commercial and industrial organisations in some of the world’s fastest growing economies with solar energy, Ecoligo stops harmful CO2 emissions from being released in countries that will be decisive in efforts to save the planet as we know it. All this is made possible by impact-driven crowd investors financing clean energy solutions and participating in the fight against climate change while receiving a financial return.

For more information see: www.ecoligo.com.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has 46 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit's loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances 527 partners, with a total outstanding capital of € 876 million (at 30 September 2021). For more information see: www.oikocredit.coop.

-Ends-

Note for editors

For more information or to request an interview, please contact:

Jasmin Panjeta, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: jpanjeta@oikocredit.org.

Linda Stadtbäumer, Communications Business Partner, Ecoligo, telephone: +49 173 3934 956, email: ecoligo@piabo.net.

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