SunFunder has initiated its first transaction in Mozambique with SolarWorks!, providing a $2 million debt facility aimed at enhancing energy access for 65,000 people.

Information on the Target

SolarWorks! is a prominent provider of Pay-As-You-Go (PAYG) solar home systems and energy services in Mozambique. The company began its operations in the country in 2011 and has recently expanded its services to Malawi. SolarWorks! offers a range of solar home systems that include basic lights and charging ports suitable for phones, radios, and small appliances, as well as more advanced systems capable of supporting small businesses and middle-income households with reliable electricity.

The company aims to significantly improve energy access across Mozambique, which has an electrification rate of less than 30%. The recent $2 million debt facility from SunFunder is expected to enable SolarWorks! to reach approximately 65,000 individuals, enhancing their quality of life while helping to reduce carbon emissions by displacing at least 26 tonnes of CO2.

Industry Overview in Mozambique

The renewable energy sector in Mozambique, particularly in the off-grid solar market, presents significant growth potential. With less than one-third of the population having access to electricity, there is an urgent need for