What we do now?
Voltares Africa has partnered with the Development Bank of Austria (OeEB) to provide affordable clean energy solutions to small and medium enterprises (SMEs) and rural villages in Senegal. OeEB has extended a mezzanine loan of €1.5 million to support Voltares Africa's initiatives in Senegal. This funding will enable Voltares to implement their rent-to-own model, reducing upfront investments for solar pumps, off-grid solar systems, and cooling warehouses.
"We are thrilled to enter into this partnership with Voltares Africa as it aligns perfectly with our mission to improve access to modern infrastructure and to support the supply of energy through renewable energy projects. We firmly believe that Voltares’ innovative solutions can be a role-model for productive use of energy in developing countries,” expressed Michael Wancata, member of the executive board at OeEB1.
The aim is to alleviate financial burdens and allow local stakeholders to focus on essential areas such as procuring seeds and land. Voltares will deliver 22 solar pumps to facilitate irrigation across 350 hectares in Senegal by August. The systems will be exclusively available to SMEs and new farmers, with a grace period for repayment. Additionally, Voltares is exploring ways to promote rural electrification in Senegal. This collaboration between Voltares and OeEB is driven by a shared vision of uplifting communities and promoting sustainable development, creating a brighter future for Senegal's farmers and communities.
Development Bank of Austria Homepage, oe-eb.at/, May 2023
Impressions from site visits
