ecoligo receives $2m from the Energy Entrepreneurs Growth Fund to accelerate solar energy in Africa 

Berlin, 25.05.2023 Impact investor Triple Jump is providing a $2 million mezzanine loan to solar-as-a-service provider ecoligo as part of its  Energy Entrepreneurs Growth Fund (EEGF). The loan will drive urgently needed investments in green energy in sub-Saharan Africa, providing local businesses with sustainable electricity.

Since its founding in 2016, ecoligo has been pioneering the global energy transition. The Berlin-based company offers retail investors the opportunity to invest money sustainably in solar projects in emerging countries. Thereby investors can decide exactly in which projects and countries their money will flow, and benefit from the profits while actively supporting the energy transition.

To date, 90 projects with a total capacity of 32.6 MWp have been fully installed and commissioned. ecoligo, together with the retail investors, has supported over 60 companies in reducing their CO2 emissions, while at the same time they have benefited from significant cost savings. Another 206 projects with a capacity of 100.8 MWp have been signed.

Triple Jump’s portfolio consists exclusively of impact-oriented investment opportunities in emerging markets. Specifically, the Energy Entrepreneurs Growth Fund (EEGF), from which ecoligo is receiving the subordinated loan, supports companies in sub-Saharan Africa during their growth phase. The focus lies on activities in the provision of renewable energy.

Markus Schwaninger, CIO at ecoligo, is excited to join Triple Jump in advancing the global energy transition: “The collaboration with Triple Jump was driven by our shared values and mission to support the Sub-Saharan Africa region more comprehensively. We look forward to bringing sustainable solar power to even more businesses in sub-Saharan Africa through the support of a renowned and valued financing partner.”

Mark Van Doesburgh, Deputy Head, Direct Investments team, Triple Jump is thrilled for EEGF to be supporting ecoligo: “ecoligo is one of the companies driving access to cheaper and reliable electricity to commercial and industrial SME clients in emerging markets. EEGF is excited to be part of ecoligo’s mission to drive sustainable and reliable energy in sub-Saharan Africa.”

About ecoligo:

ecoligo set out to save the planet. With its solar projects, the Berlin-based company founded in 2016 by Martin Baart and Markus Schwaninger is revolutionizing the energy landscape in emerging markets and driving the switch to renewable energy. The fully financed solar-as-a-service projects not only bring ecoligo’s customers financial savings, but also enable them to grow sustainably. By providing solar energy to commercial and industrial enterprises in the world’s fastest growing economies, ecoligo is making a measurable contribution to saving harmful CO2 and actively protecting the climate. The projects signed to date have saved over one million tons of CO2.

These projects are made possible by committed and environmentally conscious crowd investors who fight climate change with their investments in solar projects while investing their money profitably.

ecoligo is headquartered in Berlin and has additional locations in Accra (Ghana), Nairobi (Kenya), San José (Costa Rica), Santiago de Chile (Chile) and Ho Chi Minh City (Vietnam).

About EEGF:

The Energy Entrepreneurs Growth Fund (EEGF) is a unique fund created in 2019 by Shell Foundation and FMO, with participation from FinDev, DFC, NDF and OeEB, to make a critical contribution to the access to the energy sector whilst addressing climate change. Managed by Triple Jump and advised by Persistent, EEGF provides tailored mezzanine, equity, and debt investments combined with technical assistance to early and growth-stage companies in the access to energy ecosystem in Sub-Saharan Africa. With a fund life of 12 years, EEGF provides a longer investment holding and support period, recognizing the inherent need for such businesses in emerging economies to unlock value creation to their stakeholders. EEGF has already invested in 10 businesses, using bespoke capital solutions to meet these enterprises’ specific needs. The fund ultimately aims to reach in excess of 5 million beneficiaries, including over 240 female-led businesses, thus avoiding 4.5 million tons of greenhouse gas emissions.”

More about the Energy Entrepreneurs Growth Fund

More about ecoligo’s website

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