EIB and Engie launch program for small solar systems in Benin

The European Investment Bank (EIB) and Engie Energy Access, a solar energy company owned by French energy group Engie SA, have agreed on a joint program to finance small-scale PV systems for off-grid areas in Benin. According to the agreement, the EIB will provide a €10 million ($10.6 million) loan to make a total of 107,000 solar home systems including battery storage available. The systems are to be distributed via »pay as you go« contracts. EIB and Engie Energy Access expect the program to provide access to electricity for more than half a million people.
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