ElectriFI Country Window Program Launches in Mozambique for Renewable Energy Companies

The EU-funded Electrification Finance Initiative (ElectriFI) is expanding in Africa. Managed by EDFI Management Company, the initiative finances start-up companies and private projects that provide access to clean electricity while increasing the installed power capacity of the beneficiary countries. Mozambique has now joined the ElectriFI family together with many other African countries.

The Country Window for Mozambique was launched during the Business Conference on ‘Renewables in Mozambique’ held at Maputo, with an aim of increasing clean energy access in the country. The program is financed by the European Development Fund and the “PROMOVE Energia”, managed by the EU Delegation to the Government of Mozambique.

The renewable energy project will allow private companies to contribute to rural development in the country by increasing the implementation of electrification projects. According to the EU delegation in Mozambique, the Country Window will finance up to 10 renewable energy projects, in a sustainable and inclusive way.

Antonino Maggiore, EU Ambassador to Mozambique, said that around 75% of the €113 million of their committed investments through the country windows are dedicated to projects in sub-Saharan Africa. This initiative will enable Mozambique’s national private sector and international investors to take advantage of the network of 15 European Development Finance Institutions (EDFIs) from EU Member States.

The new program will help to channel liquidity from the EDFIs and commercial funders to the private sector in Mozambique. The provinces of Nampula and Zambezia will be prioritized under the Country Window program due to their low level of access to electricity. The program also includes a €500,000 budget dedicated to technical assistance for providing support to existing and potential ElectriFI clients in Mozambique.

Corentin Billiet, ElectriFI Senior Investment Officer, commented, “The ElectriFI country window in Mozambique is the result of strategic partnerships established in a Team Europe approach. By offering financing and assistance to renewable energy companies, we aim to contribute to Mozambique’s electrification, job creation, and climate mitigation efforts. In turn, we aim to mobilize additional private investors to commit over €25 million to those companies.

The Country Window will unlock Mozambique’s socio-economic as well as environmental development opportunities across various value chains. This will contribute to the country’s implementation plans to reach the Sustainable Development Goals (SDGs) and the national program “Energia para Todos” in particular.