top of page

Up to €550,000 co-investment - EWIA and CEI Africa agree partnership to finance off-grid solar projects in sub-Saharan Africa

EWIA Green Investments today agreed with the CEI Africa Foundationon the terms and conditions that will define the potential financing of off-grid solar projects in sub-Saharan Africa. For EWIA, the cooperation means an additional financing volume of up to EUR 550,000 in the current crowdfunding round on FunderNation - money that will support the energy transition in the region and support the commercial and industrial (C&I) solar sector in the region. CEI Africa will invest on the same terms as the private investors on FunderNation.

The planned partnership demonstrates CEI Africa's belief that EWIA has great potential to help small and medium-sized enterprises in the region improve their power supply. CEI Africa's investment aims to stimulate additional private investment in the off-grid energy sector. CEI Africa invests at a ratio of 2:1 in addition to the capital raised through FunderNation.  This means that for every EUR 2 invested via the digital financing platform, CEI Africa invests an additional EUR 1. CEI Africa's contribution can therefore reach a maximum of 550,000 euros - in addition to the 1.1 million euros earmarked for the FunderNation campaign. The terms of CEI Africa's investment have been set out in a non-binding term sheet and are subject to CEI Africa completing due diligence and receiving final approval.

A significant signal of confidence in the direction of our private investors

"This cooperation is not only an important contribution to the further expansion of our business activities and thus to our mission of supplying companies in sub-Saharan Africa with reliable, affordable and climate-friendly electricity," comments Timo Schäfer, CFO of EWIA. "It is also a significant signal of confidence towards our private investors."

CEI Africa was founded in 2021 by the German development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) to improve access to energy for rural and peri-urban households and businesses in sub-Saharan Africa. The foundation is managed by a consortium of Triple Jump B.V., Persistent Energy Capital and GreenMax Capital Group. It is a one-stop shop for mini-grid developers and other off-grid energy companies, including solar companies for the commercial and industrial ("C&I") sector, and offers a variety of financing instruments. The implementation of a crowdfunding tranche of the Foundation, which participates in debt and investment rounds in partnership with European crowdfunding platforms, is led by Persistent. CEI Africa has so far provided €28 million to support off-grid energy companies and developers of mini-grid projects through co-financing with crowdfunding providers and technical assistance.


bottom of page