Credit line

EU $ 6 million credit line for solar appliances in Africa and South East Asia – pv magazine International

European Union body EDFI ElectriFi has announced a $ 6 million line of financing to help a California-based company deliver low-cost solar home systems and appliances to Africa and Southeast Asia.

Universal Energy Access European Development Finance Institute to Offer Renewable Debt to Palo Alto-based Amped Innovation, which distributes solar lights, televisions, refrigerators and DC-AC inverters to customers low income on a pay-as-you-go basis. base, EDFI ElectriFi said on its website yesterday.

Andrea Kleissner, co-founder and co-CEO of Amped, quoted in the press release, said: “EDFI’s working capital will accelerate Amped’s deployment of energy access solutions in more than 20 African and Southeast Asian countries. For each new customer order, Amped can rely on the EDFI system to finance inventory purchases. This availability of cash is crucial – smoothing out cash flow just when it’s needed in the manufacturing production cycle. “

EDFI ElectriFi stated that Amped has also received advisory services from the European GET.invest program.

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