Photo: Altech Group
Powering affordable and accessible clean energy for all
As reported by the UN, in 2022, 685 million people remain without access to electricity, mainly in Sub-Saharan Africa. Facilitating affordable and accessible clean energy connections not only empowers communities, women and girls in particular, but it also aligns with global climate goals by enabling low greenhouse gas development pathways.
In 2024, our continued support towards increasing access to and production of affordable clean energy helped to facilitate 4.6 million clean energy connections, the majority of which was solar, benefitting 32 million people, 50% of them women. The support also contributed to 5.9 million tons of reduced or avoided carbon emissions. This section presents an example of our co-financing supporting gender-smart and locally-led investments in clean energy, powering vulnerable communities while contributing to women’s economic empowerment. Detailed results and projections per indicator under this results area are provided in the datasheet.
Energy Entrepreneurs Growth Fund (EEGF)
Building lasting impact through clean energy solutions
Since 2016, we have increased our efforts in strengthening the engagement with the private sector to support the global goal of closing the climate finance gap. Our concessional finance plays an important role in catalysing private finance for climate and development solutions and currently, in our active portfolio, 43% are in private sector funds and investment facilities, which includes blended finance funds.
Blended finance is a structuring approach which strategically uses catalytic capital from public or philanthropic sources to unlock critically needed private finance for sustainable development goals, especially in the Global South. According to Convergence, in 2024 blended finance mobilised approximately USD 249 billion towards achieving the global goals.
Our blended finance portfolio includes 13 funds, comprising 150 underlying portfolio companies and is steadily growing. Moreover, climate mitigation focus of the blended finance portfolio is at 70%, while adaptation investments cover 30% of the active portfolio.
One such fund we finance is the Energy Entrepreneurs Growth Fund (EEGF), managed by Triple Jump. It aims to deliver financing solutions and on-site support to growth stage companies, especially in Sub-Saharan Africa, by providing off-grid products and services to increase access to clean, safe, reliable and affordable energy for households and businesses.
We have closely collaborated with EEGF, especially in promoting results-based management and gender-responsive approaches in investments. Together, we have co-created the Fund-level impact management framework and enhanced gender equality measures by improving the quality of gender data, studies and learning.
Research shows that access to clean energy through off-grid products can positively contribute to improvements in women and girls’ socio-economic conditions. In many cases, it increases safety and saves time in fuel collection and cooking promotes a healthier environment, extends productive hours through lighting, increases disposable income and opens doors to new economic opportunities.
Access to clean energy through off-grid products can positively contribute to improvements in women and girls’ socio-economic conditions.
Photo: Altech Group
Gender-smart investments drive progress
In 2024, EEGF conducted a project, focusing on the potential impacts of Solar Home Systems (SHS) on women’s economic empowerment. The project explored the benefits and challenges of SHS adoption to enhance women’s empowerment through these technologies and aimed to identify gender gaps in the investment portfolio. Acknowledging the relationship between access to energy and gender equality, EEGF aims to address unique needs of women at all levels, as customers, employees and energy entrepreneurs. This goal is achieved by gender-responsive approaches, such as applying a gender lens in investment strategies.
"Investors and funders have a critical role in advancing gender equality in the energy sector. The insights from the EEGF project highlight the importance of integrating gender-responsive practices into both investment strategies and technical assistance support. By collecting sex-disaggregated data, supporting gender-inclusive business models, and encouraging SHS providers to design solutions that meet women's needs, investors can drive meaningful social impact and financial performance," says Kevin Barasa Wafula, Technical Assistance Manager of EEGF.
Gender-smart investments are a strategic advantage: They drive innovation, unlock new markets and build sustainable growth within the energy sector.
Investors and funders have a critical role in advancing gender equality in the energy sector."
-Kevin Barasa Wafula, Technical Assistance Manager of EEGF
Photo: Sebastian / Adobe Stock
Locally-led off-grid solutions in DRC
One of the companies EEGF has invested in is Altech, a company focusing on clean energy in the Democratic Republic of Congo (DRC), where 85% of the population has no access to electricity. The company, founded in 2013, supports the expansion and scale-up of clean off-grid solar lighting solutions, offering solar lanterns to larger SHS providers, with an aim of providing more than 300,000 people with access to electricity. The company also operates in conflict zones, running several electrification projects in refugee camps that improve the dire conditions through electrification and creating jobs.
Washikala Malango and Iongwa Mashangao, the founders of Altech, both grew up in a refugee camp in Tanzania during the late 1990s, having fled the Congolese civil war. While studying in the University of Dar es Salaam, they found a way to support themselves financially: Buying small numbers of solar lanterns in Tanzania and importing them to the DRC to sell. Each trip, they brought back more, driven by a growing demand and a shared belief in the power of clean energy.
Today, Altech has grown to be a market leader for solar products in DRC, with operations in 26 provinces in DRC. Their network of over 2000 sales agents has distributed over 500,000 solar products due to their deep local knowledge and customer-centric approach.
Today, Altech has grown to be a market leader for solar products in DRC, with operations in 26 provinces in DRC.
Spotlight on gender
Creating decent and safe working environment
While Altech funds 140 full-time jobs in a country with an average of 20% unemployment, they also have a positive environmental impact: The solar products sold to date that have reached over one million beneficiaries, will avoid 944k tonnes of CO2 emissions.
Altech is also working towards advancing women’s economic empowerment, with 31% of their agents and staff being women. The company promotes gender equality through inclusive hiring practices to increase the participation of women, especially in field-based roles traditionally dominated by men. In total, nearly 500 women have been employed by Altech across their operations in DRC.
We’ve put policies in place—like anti-harassment guidelines, field safety protocols, and flexible work arrangements for mothers and caregivers—to support women at Altech. But real support comes from how these are applied in practice. It’s not just about having policies—it’s about making sure women actually feel safe, respected, and able to thrive in their roles.”
- Washikala Malango, one of the founders of Altech
NDF CO-FINANCING
EUR 9 million
PROJECT PERIOD
2022-2033
PARTNERS
TripleJump
MAIN RESULTS (EEGF)
- 2 822 510 clean energy connections facilitated.
- 14 696 691 people with improved clean energy access (of which 50% women).
- 4351 jobs supported (1827 women, 2524 men).
Sources:
Convergence (2024) Stockholm Environment Institute (2024) United Nations et al (2024)