SolarX Ltd
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The client is SolarX, a commercial and industrial (“C&I”) solar rooftop business active in Mali, Burkina Faso and Senegal, which offers affordable, clean and reliable power assets with attractive economics to commercial customers that rely on high cost diesel-powered gensets and/or an unreliable grid.
What is our funding objective?
The funding objective is to support SolarX improve its technical policies and practices, incl. update on contracts for Engineering, Procurement & Construction (“EPC”) as well as Operations & Maintenance (“O&M”) services, internal procedures for projects and O&M strategies and agreements. This support shall come from external consultants.
Why do we fund this investment?
This project is funded through the Investee Strengthening component of the FMO Ventures Program Technical Assistance Facility, co-funded by the Dutch Government and European Commission. This component seeks to enable the Ventures Program investees to meet relevant standards, improve company performance efficiency and revenue, and increase the impact of their business. This project supports these objectives by significantly contributing to the investee improving operational effectiveness and technical execution capabilities alongside significantly reducing operational risks.
More investments
| Date | Total FMO financing |
|---|---|
| 9/2/2022 | EUR 3.00 MLN |
| 9/2/2022 | EUR 2.50 MLN |
- Region
- Africa
- Country
- Mali
- Sector
- Energy
- Publication date
- 8/8/2023
- Effective date
- 7/21/2023
- Total FMO financing
- EUR 0.04 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+