Togo Provides Opportunities for Solar Entrepreneurs
Togo has an ambitious 12-year solar-powered plan to provide electricity to all of its citizens. By 2030, it hopes to achieve universal access to electricity. That would be done through building 300 mini solar plants across the nation and then distributing solar kits to the citizens.
However, the Togolese government hopes an ambitious “electrification strategy” will bring millions of its citizens out of the dark. Its target is for electricity to reach 50% of Togo’s 7.5 million-population by 2020, 75% by 2025 and achieve universal access by 2030.
Togo needs about $1.7 billion to execute that strategy; most of that cash would need to come from private capital.
As for Togo, while the strategy is sound on paper, it’s an economic challenge as one of the world’s poorest countries. The 12-year plan will cost the country $1.7 billion, its GDP in 2016 was just $4.4 billion. To overcome this, the government is courting private investors to shoulder half the cost and the African Development Bank has pledged to contribute $35 million to the pot.
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