Lumos needs to broaden the distribution of its photo voltaic house techniques in Côte d’Ivoire. The Dutch firm obtained financing from the Dutch Improvement Finance Company (FMO) to spice up the actions of its subsidiary in Côte d’Ivoire. Within the rural areas of this West African nation, the corporate has develop into a pioneer in family electrification via the distribution of photo voltaic house techniques.
Lumos’ equipment is basically composed of photo voltaic panels, inverters, and batteries for storing the electrical energy wanted for lighting after sundown. The small, home-scale grid can present lighting in addition to energy and charging for units similar to cell phones, followers, computer systems, televisions and different small digital units.
1000’s extra houses shall be electrified within the subsequent few yrs
The sum of money invested by the FMO within the photo voltaic equipment provider was not disclosed, however Renée Comoe Seka, the managing director of Lumos Côte d’Ivoire expressed the significance of the financing from the Dutch improvement bank. “The new FMO funding will enable hundreds of thousands of people to benefit from reliable, sustainable and affordable energy,” says Renée Comoe Seka.
In concrete phrases, Lumos needs to extend the manufacturing of its photo voltaic house techniques tenfold with a view to “meet the growing demand from households and businesses throughout the country”. At the moment, the corporate supplies electrical energy to 200,000 individuals residing primarily in rural areas not served by the nationwide electrical energy grid in Côte d’Ivoire. On this a part of the nation the place the buying energy of native residents is fairly low, Lumos favours pay-as-you-go (pay-per-use). This cost system for small quantities is named “mobile money”, a service supplied by the South African operator MTN.
Financing from the Dutch Improvement Finance Company (FMO) strengthens Lumos within the very dynamic photo voltaic market in West Africa, with very sturdy competitors between operators. The photo voltaic equipment provider can be current in Nigeria, the place in December 2019 it obtained a €75 million grant from the Rural Electrification Company (REA). With this grant, Lumos expects to impress a million individuals by 2025 via its photo voltaic house techniques.
Jean Marie Takouleu