Rwandan mini-grids project secures extra financing
REPP increases investment in ambitious scheme to build over 120 solar mini-grids in rural Rwanda
The Renewable Energy Performance Platform (REPP) has topped up an existing convertible loan to mini-grid developer ARC Power by £300,000, bringing the total commitment to £900,000.
UK-based ARC Power is working on the first of a two-phase project to roll out up to 120 solar mini-grids in rural Rwanda that will connect 145,000 people to clean energy for the first time. To date, it has completed six mini-grids made up of two generation systems and six distribution networks serving seven villages in Bugesera District, connecting 4,895 people to electricity for the first time.
Following successful completion of eight mini-grids during the initial phase, ARC Power intends to complete the construction of the second and wider roll-out of the project, which will boost the total generating capacity from 0.12MW to 2.24MW.
The £300,000 top-up is being matched with £600,000 by private investors, which have previously committed £1m to the project.
The new funding will provide a runway to the company until its larger fundraise, planned for later this year.
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