MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Loans $10m to FinLux ELLEN Sarl to Promote Solar Electricity Access in Chad in Partnership with Bren-Tronics

The Overseas Private Investment Corporation (OPIC), the development finance institution of the US government, recently loaned USD 10 million to FinLux E Longlife Energies Nouvelles (ELLEN), a firm registered in France, to distribute solar-powered devices to households, small businesses, medical clinics and educational institutions in Chad. To minimize the upfront cost to users, “the Project Company will retain ownership” of the devices. FinLux ELLEN will carry out its work in collaboration with Bren-Tronics Inc, a US-based provider of batteries and chargers to the military. Sai Fung serves as president of both firms. Although financial data on the firms is not public, Bren-Tronics’ most recent press release cites a 2017 contract for USD 6.2 million.

Established in 1971, OPIC is a financially self-sustaining organization helping US-based businesses invest in low- and moderate-income countries in ways intended to foster economic development while advancing US foreign policy priorities. In particular, OPIC provides financing, advocacy and political risk insurance. During the 12 months ending September 2018, the organization disbursed USD 3.3 billion to new projects, closing the year with active projects in 89 countries and USD 9.6 billion in total assets.

By Shuyang Sun, Research associate

Sources and Additional Resources
OPIC press release
https://www.opic.gov/press-releases/2019/opic-advances-first-financing-project-chad

OPIC homepage
https://www.opic.gov/

OPIC 2018 Annual Report
https://www.opic.gov/sites/default/files/files/OPIC_FY_2018_Annual_Management_Report.pdf

Public Information Summary FinLux ELLEN Sarl E-Longlife Energies Nouvelles
https://www.opic.gov/sites/default/files/files/9000083215.pdf

E-Longlife Energies Nouvelles
https://www.infogreffe.com/entreprise-societe/823329834-e-longlife-energies-nouvelles-750116B244770000.html

E-Longlife Energies Nouvelles
https://www.pagesjaunes.fr/siret/82332983400019

Bren-tronics Inc homepage
https://www.bren-tronics.com/

MICROCAPITAL BRIEF: SunFunder Raises $42.5m for Solar Energy Transformation Fund from OPIC, Calvert, Ceniarth, IKEA Foundation
https://www.microcapital.org/microcapital-brief-sunfunder-raises-80m-for-solar-energy-transformation-fund-from-opic-calvert-ceniarth/

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