ADA is expanding its Energy for Value Chain and Employment in Rural Areas (EVER) program to Senegal, following its success in Benin and Burkina Faso. The program will leverage microfinance institutions to provide solar-powered solutions to rural entrepreneurs.
Green Energy Projects: A New Solar Lending Program
ADA is expanding its innovative Energy for Value Chain and Employment in Rural Areas (EVER) program to Senegal. This initiative is designed to boost rural entrepreneurship through the adoption of solar-powered productive use equipment, which is a key driver of sustainable development.
Initially piloted in Benin and Burkina Faso, the EVER program has already delivered 1,700 solar-powered solutions to rural entrepreneurs, thereby stimulating local economies and creating 3,000 jobs. Now, ADA is set to replicate this success in Senegal, a nation that has been making strides in renewable energy development. For instance, Afreenergy Solar’s acquisition of solar assets in Senegal underscores the region’s commitment to expanding its renewable energy capacity.
In Senegal, the EVER program will focus on building the capacity of local microfinance institutions (MFIs) to offer solar loans tailored to rural entrepreneurs. These loans will enable the purchase of solar-powered equipment for activities such as food processing, irrigation, and refrigeration, contributing to enhanced productivity and sustainability in rural areas.
Building Capacity and Partnerships for Green Energy Projects
ADA will collaborate with selected MFIs to develop energy financing products and train staff on energy lending techniques. The program will also connect MFIs with trusted solar technology providers to ensure high-quality equipment is accessible to rural entrepreneurs. This approach ensures that solar solutions are seamlessly integrated into rural value chains, enhancing productivity, reducing post-harvest losses, and creating new economic opportunities.
The expansion of the EVER program is supported by the Luxembourg Ministry of the Environment, Climate and Sustainable Development, reflecting strong international partnerships aimed at achieving sustainable development goals.
Impact of the EVER Program on Green Energy Projects
The EVER program in Benin and Burkina Faso has demonstrated the effectiveness of combining microfinance and renewable energy to drive rural development. In these countries, the program has improved access to energy, increased agricultural productivity, and created thousands of jobs.
By replicating this model in Senegal, ADA aims to achieve similar results, contributing to the country’s economic growth and rural development. This effort also aligns with Senegal’s renewable energy targets, as seen in initiatives such as ChargePoint’s carbon credits Senegal initiative, which funds solar and wind projects to deliver clean energy across the region.
The expansion of the EVER program to Senegal represents a significant step forward in ADA’s mission to promote financial inclusion and sustainable development. By empowering rural entrepreneurs with access to solar-powered solutions, the program will help to unlock new economic opportunities and improve the livelihoods of communities across Senegal.