The Electrification Finance Initiative (ElectriFI) is expanding in Africa. This European Union (EU) funded programme has just opened a country window in Mozambique. The aim is to support access to electricity via renewable energy. Managed by EDFI Management Company, ElectriFi finances start-up companies and private projects that provide access to electricity while increasing the installed capacity of the programme’s beneficiary countries.
15 million from the European Development Fund (EDF) under the “Promove Energia” programme managed by the EU Delegation with the Government of Mozambique. ElectriFi will focus on start-ups with a budget of €500,000 for technical support.
Universal access to electricity by 2030?
According to the EU delegation in Mozambique, the programme will support 10 projects dedicated to accelerating access to clean energy, “in a sustainable and inclusive manner”. The provinces of Nampula and Zambezia will be prioritised under the programme due to their low level of access to electricity.
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“Of the €113 million of investments committed through the national windows, we are proud to say that 75% are for investment projects in sub-Saharan Africa! By joining this initiative, Mozambique, the domestic private sector and international investors will benefit from the network of 15 European Development Finance Institutions (EDFIs) from EU Member States, which have joined forces and are jointly managing this initiative,” says Antonino Maggiore, the EU Ambassador to Mozambique.
The East African country has an electricity access rate of only 13% in rural areas and 57% in urban areas, according to Power Africa. The Mozambican government wants to achieve universal access to electricity by 2030. An ambitious goal that Maputo intends to achieve by focusing on off-grid solutions, and connection to Mozambique’s national electricity grid. The country, with a population of 32 million, has an installed capacity of just over 3,000 MW with several power plants under construction.
Jean Marie Takouleu