The Off Grid Electricity Fund (‘OGEF’), a renewable energy access fund for Haiti supported by the World Bank, today announces the investment of a working capital loan of USD$500k in ESG Group SA, which trades under the brand Ekotek. ESG Group SA is one of the market leaders in Haiti supplying solar products, including lanterns and solar home systems. The working capital loan will enable ESG Group SA to introduce new products to the market that meet the internationally recognised VeraSol standard.
OGEF has also launched a results-based-financing grant program for companies distributing quality solar products in Haiti.
OGEF is jointly managed by Bamboo Capital Partners as the international fund manager together with the Haitian Development Finance Institution: Fonds de Développement Industriel (FDI). Established by the Haitian Government, OGEF is supported by World Bank and funded by the Clean Technology Fund and the Scaling up Renewable Energy Program in low-income countries (‘SREP’), which accelerate climate action by empowering transformations in clean technology, energy access, climate resilience, and sustainable forests in developing and middle-income countries.