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Haiti - Technology : $13.5 million investment in solar energy 19/03/2025 09:26:22
"As Haiti continues to face challenges, we remain committed to finding solutions that support its long-term recovery. This investment is a critical step in addressing the country's chronic energy challenges while advancing resilience and development," said Elizabeth Martínez de Marcano, IFC's Regional Director for Central America, the Caribbean, Mexico, and Colombia. "We are proud to partner with IDB Invest to support Solengy, an innovative Haitian SME that is driving positive change for households, businesses, and communities alike." "In the face of Haiti’s profound challenges, ensuring access to reliable and affordable energy is more critical than ever. This investment is a testament to the power of distributed energy in transforming lives, strengthening businesses, and fostering long-term economic resilience. At IDB Invest, we are committed to working with partners like IFC to scale innovative solutions that not only expand access to electricity but also drive sustainable recovery and development in Haiti’s energy sector," said Marisela Alvarenga, Chief Industries Officer (a.i) at IDB Invest. "This investment marks a significant milestone for Solengy and a crucial step toward transforming Haiti’s energy future," said Rowolson Kuhn, Founder and CEO of Solengy. "With this new funding, we will accelerate our efforts to expand solar access, strengthen our team and infrastructure, and empower more communities across the country [...]" Structured by IFC, the long-term financing package consists of a US$3 million senior loan from IFC’s own account, a US$3 million senior loan mobilized by IDB Invest, a US$6 million subordinated loan from the Canada-IFC Blended Climate Finance Program, and a US$1.5 million grant from the Korea Green, Resilient and Innovative Development (K-GRID) program. The funds will be disbursed over several years, and will directly finance projects spearheaded by Solengy, ensuring a measured and impactful deployment of resources despite the ongoing political, economic and security issues. See also : https://www.haitilibre.com/en/news-43338-haiti-economy-solengy-haiti-submits-a-financing-request-for-its-expansion-to-the-ifc.html https://www.haitilibre.com/en/news-40047-haiti-energy-investment-of-$45-million-in-solengy-for-solar-in-haiti.html https://www.haitilibre.com/article-827-haiti-social-digicel-fait-de-l-humanitaire-gagnant-gagnant.html (in french) HL/ HaitiLibre
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