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Digital Subscriptions > Development Finance > Issue 5 > Electrifimakes first investment in microenergy project

Electrifimakes first investment in microenergy project

Sigora powers a Haitian village
© SIgora Haiti

The European Commission’s electrification financing initiative, ElectriFI, has made its first investment of US$2.5 million in clean energy micro-utility Sigora Haiti, supplying households, schools and small firms with electricity.

Electrifireceived 290 proposals in response to its first call for investment in April 2016 before passing management of the €75 million fund on to the Association of European Development Finance Institutions (EDFI) and its new Management Company EDFIMC.

“Our goal is to grow Electrifithis year and next year, we hope to launch AgriFI,” said Frederik van den Bosch, managing director of the EDfiManagement Company (EDFIMC). “With that experience, we can think about health, education and water funds. Some people say it is impossible to find these projects but once you get out of the capital cities you will find there is lots of private and commercial activity going on already.”

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