WeLight Madagascar’s access to energy initiative will receive €19 million in financing from the EIB, Triodos Investment Management and EDFI ElectriFI the EU-funded Electrification Financing Initiative.
Today the European Investment Bank (EIB), Triodos Investment Management and EDFI ElectriFI announced their new collective investment of €19 million to support WeLight Madagascar’s €28 million project in Madagascar. The investment will enable WeLight to build and develop solar mini-grids to supply electricity to over 120 villages in Madagascar which currently have no access to the electricity grid.
A maturing asset class, climate tech offers strong financial returns to investors and an opportunity to create outsized environmental and social impact. Yet, the sector is far from becoming a priority for Indian VCs - Issue Date: Aug 21, 2022