After it signed an agreement with Dubai energy company Amea Power to build a 120 MW solar farm earlier this year, the sub-Saharan nation has inked another MoU with FinLux Ellen, a company specializing in solar energy to multiply the number of plants in the country.
The Overseas Private Investment Corporation (OPIC), the USA government’s development finance institution, has committed $10mn to support the introduction of off-grid solar kits and appliances in Chad.
The money will enable FinLux Ellen to deploy its project to market solar home kits and install off-grid systems in the central African nation.
The operation will be carried out through Alternaprod Tchad, the new Chadian subsidiary of FinLux Ellen.
According to OPIC’s CEO, promoting access to electricity is one of the most effective ways to empower people, improve their lives and promote economic growth.
The 10-million funding from OPIC is part of the Power Africa project, launched by former US President Barack Obama to promote access to electricity and the development of renewable energy.
The solar kits and appliances that FinLux is distributing in Chad are based on a battery produced in New York State and adapted for rural electrification in Sub-Saharan Africa.