E-Long Energies Nouvelles (Ellen)

E-Long Energies Nouvelles (Ellen)

STATUS: Approved investment

Publication date: 13 November 2018
Region: Sahel
Country: Niger Mali
Sector: Solar PV
Total ElectriFI financing: 4M
Environmental and Social Category: C

*(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

Brief description of the client and project

E-LongLife Energies Nouvelles is a company based in Paris, France and created in 2015. It is specializing in energy services in difficult areas –  designing and renting out large Solar Home Systems for productive use in the Sahel area (e.g Chad, Niger and Mali).

Funding objective

This investment will provide the prospect with long term funding to kickstart its plans in both Niger and Mali, directly financing ~ 2.4k systems, with the objective of reaching ~20k customers in remote and rural areas by 2020.

Why ElectriFi wants to fund this project.

This project is in line with ElectriFI mandate to support private players delivering energy access services in regions with very low electrification rates.

Environmental and social rationale: Which IFC PSs are triggered and the rationale behind it.

The Project is rated category C. Ellen ‘s business activity is to design and rent out large Solar Home Systems (SHS) for productive use in the Sahel area. There are no significant E&S impacts associated with their business activity. Ellen has a waste and recyclability commitment and the products are rented in a transparent and responsible matter with a long-term pricing deemed affordable and in line with the energy expenses.

The following Performance Standards are triggered by the transaction: PS 1 Assessment and Management of Environmental and Social Risks and Impacts PS 2 Labor and Working Conditions PS 3 Resource Efficiency and Pollution Prevention PS 4 Community Health, Safety and Security.

Disclaimer

The information as disclosed is indicative and provided on an “as-is/as available” basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of ElectriFI in its sole and absolute discretion.

In case of questions

This approved investment is online for 30 days. In case of questions, please contact info@edfimc.eu.