Africa Greentec issues €10 million corporate bond to finance solar containers in Mali

German start-up Africa Greentec is issuing a corporate bond in the amount of €10 million ($11,8 million). The bond will be issued by Africa Greentec Asset GmbH. The company will use the proceeds to finance the delivery and installation of mobile solar containers in Mali, thereby providing as many as 250,000 people with access to clean, cheap and reliable energy. The power generated by the mobile power plants in Mali will be sold to local villagers »at fair prices, with the proceeds being used to cover the costs of operating and maintaining the containers as well as for debt service.« The bond offers 6.5 percent interest per annum. The solar containers were initially crowdfunded.
12,000 villages in Mali alone have no access to electricity. The 40-foot containers from Africa Greentec are equipped with a mobile 41 kW photovoltaic installation and a 60 kWh battery storage system.

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