Revolutionizing Renewable Energy Financing in Africa Scaling Solar Access Through Innovative Portfolio Securitization

Context

In Africa, 600 million people lack access to electricity.
The off-grid solar market is estimated at $24 billion, yet its growth is hindered by limited access to financing.

Neot Offgrid Africa (NOA) has launched the first debt securitization program dedicated to financing renewable energy in Africa, in partnership with Zola Électricité Côte d’Ivoire (ZECI). This financial innovation will enable the deployment of more than 100,000 solar home systems in Côte d’Ivoire, particularly in rural and peri-urban areas.

The Challenge

• Unlock large-scale financing

The main barrier to the development of solar energy in Africa is the lack of financing mechanisms tailored to local market realities.

• Deliver clean and affordable electricity

Rural households, often unbanked, need access to flexible payment solutions to become owners of solar equipment.

Our Solution

• A €40 million securitization program
  • NOA bears the financial risk, allowing ZECI to focus on deploying solar kits.
  • A “rent-to-own” model enables customers to progressively acquire their systems.
  • Payments are made via mobile money, a solution adapted to unbanked populations.
• A robust financing structure
  • Crédit Agricole CIB, Société Générale CIB, and SGCI were mobilized to structure the transaction.
  • Local currency loans provided by SGCI, adjusted monthly based on portfolio performance.
  • Financial guarantees provided by the African Development Bank (AfDB) and CACIB.
  • Grameen Crédit Agricole Foundation oversees monitoring of social and environmental performance.

Results & Impact

• 100,000 households electrified in rural and peri-urban areas
• Improved access to clean energy without grid connection
• Strengthened private sector role in energy infrastructure development

Why Neot Offgrid Africa?

As a leader in off-grid renewable energy financing, NOA brings tailored financial innovation to meet the continent’s energy challenges.