EDP invested €2 million in SolarWorks! B.V. to support the expansion of its pay-as-you-go solar energy solutions in Southern Africa.

Information on the Target

SolarWorks! B.V., based in Mozambique, is a leading provider of pay-as-you-go (PAYG) solar solutions. The company specializes in offering solar home systems and related products to off-grid households and small businesses, particularly in rural and peri-urban regions. Since its inception in 2016, SolarWorks! has successfully operated in the off-grid energy market and has established a workforce of over 170 employees. The recent €2 million investment from EDP will accelerate the company’s expansion into neighboring Malawi, further solidifying its position in Southern Africa.

Industry Overview in Mozambique

The renewable energy landscape in Mozambique is evolving, with significant opportunities for growth in the off-grid energy market. A considerable portion of the rural population in Mozambique lacks access to electricity, leading to a high demand for innovative energy solutions like PAYG systems. This model has become increasingly popular because it provides affordable and accessible solar energy for communities traditionally reliant on expensive and polluting energy sources.

Myanmar's unique geography, combined with a growing interest in solar technology, offers a fertile ground for renewable energy investments. The government has also recognized the importance of solar energy in its devel