IDB Invest and IFC partner to expand energy solutions in Haiti

Solengy Haiti S.A., a leading local solar energy company providing solutions to homes, schools, hospitals, and commercial and industrial clients in Haiti, has received a 13.5 million dollars investment from IDB Invest and IFC (a member of the World Bank Group) to finance solar energy and energy storage projects.

The initiative will finance the installation of 10 MWp of solar photovoltaic energy and 20 MWh of energy storage, and is expected to contribute to expanding the role of distributed generation in the local market.

The long-term financing scheme consists of: i) a 3 million dollars senior loan from IFC, ii) a 3 million dollars senior loan mobilized by IDB Invest, iii) a 6 million dollars subordinated loan from the Canada-IFC Blended Climate Finance Program, and iv) a 1.5 million dollars grant from the Korea Green, Resilient and Innovative Development (K-GRID) program.