Solar home system provider, Lumos, has secured new funding from Dutch entrepreneurial development bank, FMO, to expand its provision of solar home systems in Côte d’Ivoire.
The new funding will enable Lumos to produce tens of thousands of solar home systems to grow its existing customer base and meet fast-growing demand from homes and businesses across the country. Approximately 9 million people (33% of the population) in Côte d’Ivoire live without access to the grid.
It is estimated that 200,000 people will benefit from access to energy through the distribution solar home systems.
The solar technology will enable people to switch from dangerous, expensive kerosene lanterns to reliable, clean energy, contributing to economic growth and sustainable development in the West African country.
Solar home systems offer a unique power solution to a global market of more than two billion people. Currently, there are 740 million people with poor or no access to the electricity grid in sub-Saharan Africa.
Renee Comoe Seka, CEO at Lumos Côte d’Ivoire, commented: “Access to reliable energy is critical for economic growth. The new funding from FMO will enable hundreds of thousands of people to benefit from reliable, sustainable and affordable energy. FMO is a pioneering institution and shares our commitment to harness the market demand and lift people out of poverty. Our joint ambition is to provide power for everyone.”
Huub Cornelissen, Director Energy at FMO, added: “Lumos offers a unique solution for millions of people living with no access to the electricity grid. We support companies, like Lumos, that power developing economies, promote the transition to a low-carbon system and achieve prosperity at scale. Lumos delivers on all three goals and their next phase of growth in Côte d’Ivoire will bring immeasurable benefits to local people in the hardest to reach communities.”