IFC and IDB Invest Join Forces to Boost Solar Energy Access in Haiti
March 19, 2025: In a significant move to strengthen Haiti’s recovery efforts and energy security, IFC – a member of the World Bank Group – and IDB Invest – the private sector arm of the Inter-American Development Bank (IDB)- announced a US$13.5 million investment in projects by Solengy Haiti S.A., a leading local solar energy company that provides solutions to households, schools, hospitals, and commercial and industrial customers, paving the way for increased access to electricity in the country.
Amid ongoing humanitarian and security challenges in Haiti, the project aims to support the installation of 10 MWp of solar PV and 20 MWh of storage. It will provide reliable energy, enhancing economic competitiveness by providing businesses with a more reliable and cost-effective energy supply. Additionally, IFC and IDB Invest’s backing for Solengy is anticipated to help transform the Haitian energy sector and expand the role of distributed generation in the market.
“As Haiti continues to face challenges, we remain committed to finding solutions that support its long-term recovery. This investment is a critical step in addressing the country’s chronic energy challenges while advancing resilience and development,” said Elizabeth Martínez de Marcano, IFC’s Regional Director for Central America, the Caribbean, Mexico, and Colombia. “We are proud to partner with IDB Invest to support Solengy, an innovative Haitian SME that is driving positive change for households, businesses, and communities alike.”
“In the face of Haiti’s profound challenges, ensuring access to reliable and affordable energy is more critical than ever. This investment is a testament to the power of distributed energy in transforming lives, strengthening businesses, and fostering long-term economic resilience. At IDB Invest, we are committed to working with partners like IFC to scale innovative solutions that not only expand access to electricity but also drive sustainable recovery and development in Haiti’s energy sector,” said Marisela Alvarenga, Chief Industries Officer (a.i) at IDB Invest.
“This investment marks a significant milestone for Solengy and a crucial step toward transforming Haiti’s energy future,” said Rowolson Kuhn, Founder and CEO of Solengy. “With this new funding, we will accelerate our efforts to expand solar access, strengthen our team and infrastructure, and empower more communities across the country. We are deeply grateful to IFC and IDB Invest, our financing partners, and to CrossBoundary, our advisory firm, for their trust in our vision. We are excited about the opportunity to create lasting, positive impact in Haiti.”
Solengy delivers fully integrated solar energy systems and associated services, including energy diagnostics, installation, operation and maintenance, insurance, warranties and financing. These services are offered under 3 to 10-year contracts to residential, commercial and industrial clients, making energy more accessible by overcoming key barriers such as high upfront costs, customer service challenges, and limited financing options. Solengy’s customers can achieve energy savings of 30% to 40%, significantly reducing operational costs while transitioning to sustainable and reliable energy.
Structured by IFC, the long-term financing package consists of a US$3 million senior loan from IFC’s own account, a US$3 million senior loan mobilized by IDB Invest, a US$6 million subordinated loan from the Canada-IFC Blended Climate Finance Program, and a US$1.5 million grant from the Korea Green, Resilient and Innovative Development (K-GRID) program. The funds will be disbursed over several years, and will directly finance projects spearheaded by Solengy, ensuring a measured and impactful deployment of resources despite the ongoing political, economic and security issues.
The lenders are scaling-up a seed investment from a World Bank-Haiti energy fund in Solengy. In addition, IFC is providing comprehensive support to Solengy on environmental matters and corporate governance.
Difficulties in Haiti’s electricity sector, including frequent fuel shortages and delivery challenges, significantly hinder economic development, increasing the cost of doing business and creating significant barriers to entry, and recovery efforts. As of 2021, only about 47% of the population had access to electricity.