First PV financing project in Cameroon about to start

Following the acquisition of SunErgy in April 2025, we not only have a foothold in Cameroon and 24 additional, highly motivated employees on site, but we have also expanded our business model and are now electrifying entire village communities, namely SunErgy's customers. And now we are about to enable the first investment for Ewia's investors outside Ghana, namely in Cameroon.

Specifically, this means that we will revitalize four existing PV systems in four villages on the Atlantic coast, i.e., replace inverters, check the cabling, and carry out structural measures, modernization, and safety measures to ensure the functionality and performance of the systems. In addition, the substructures, for which sustainable wooden frames were used, are showing the first signs of fatigue. Subsequently, additional households and small businesses will be connected to the four self-sufficient power grids (here we have described what this means for the village community).

In order to finance this revitalization and offer it for investment via conda-capital.com, our subsidiary, EWIA Impact I UG, must obtain financing approval from the German Federal Financial Supervisory Authority (BaFin). This approval has just been granted!

The four communities are located in the Littoral region (meaning “coast”) with the capital city of Douala. With a population of just under 2.8 million, Douala is considered the economic center of Cameroon and is the largest city in Cameroon after the capital city of Yaoundé. What are we doing here in the villages?

• Matouke: The centrally located ground-mounted photovoltaic system with a capacity of around 139 KWp and a corresponding battery storage facility was completed by SunErgy in 2019. The village currently supplies 253 households with around 1,650 residents and various small businesses.

• Kotto Nightingale: The centrally located ground-mounted photovoltaic system with a capacity of around 139 KWp and a corresponding battery storage facility was completed in January 2020. The village currently supplies 329 households with around 1,650 residents and various small businesses.

• Kotto Mission: The centrally located ground-mounted photovoltaic system with a capacity of around 140 KWp and a corresponding battery storage facility was completed in March 2021. The village currently supplies 255 households with around 1,300 residents and various small businesses.

• Kotto Up: The centrally located ground-mounted photovoltaic system with a capacity of around 138 KWp and a corresponding battery storage facility was completed in July 2021. The village currently supplies 320 households with around 1,600 residents and various small businesses.

An electricity purchase agreement was concluded with all households. Prices were halved during the COVID pandemic. Residents currently pay a price of 0.21 euro cents per kWh consumed. Existing annual electricity consumption amounts to around 433,000 kWh, and the trend is rising.

How and why did we end up in Cameroon?

Background: SunErgy Ltd. (Cameroon) is a wholly owned subsidiary of SunErgy GmbH in Grünwald near Munich, where EWIA Green Investments GmbH is also based. SunErgy Ltd. (Cameroon) was founded in 2014 by Norwegian solar pioneers as a subsidiary of an Oslo-based company. Just one year later, in 2015, the first village was successfully electrified. Sunergy has now successfully implemented and built twelve villages. A contract has been signed with the Cameroonian government that allows for the electrification of up to 92 villages in Cameroon.

Ewia + SunErgy + KGAL = Pan-African footprint

In 2019, KNF (KGAL New Frontiers GmbH), based in Grünwald, acquired a significant stake in the parent company in Oslo. KGAL (parent company of KNF) is a leading independent investment and asset manager with over €15 billion in assets under management. Its investments focus on long-term real capital investments for institutional and private investors in real estate, sustainable infrastructure, and aviation. Shortly thereafter, the company relocated its headquarters from Oslo to Grünwald near Munich. The founding partners of EWIA have long-standing relationships with both KGAL and Scandinavia. The idea of exploiting synergies and working together on the electrification of Africa was only a matter of time.

The German company Ewia is now active in three African markets: Ghana, Nigeria, and Cameroon. Our goal is to become the first pan-African solar financier. We have now become an EPC ourselves, constructing PV systems as well as mobile phone masts powered by PV.

Now that BaFin has granted its approval, we can get started soon. We are very much looking forward to it. Stay tuned!