Last May, Amundi Finance & Solidarité, the Social Impact fund managed by Amundi formalized a first investment step of 2m EUR in Ilumexico, a Mexican startup specialized in solar-as-a-service solution for off-grid and grid poor communities.
The investment will accelerate Ilumexico’s deployment of distributed solar solutions for families and businesses that lack adequate energy services today. This investment will have an important social, environmental and financial impact in the lives of thousands of people in the Americas.
Ilumexico CEO Manuel Wiechers commented that “We are looking to become the next generation utility of the Americas, to ensure that families that don’t have access to energy or people that are vulnerable to the failing traditional grid will have 24 hour electricity with solar energy at an affordable cost, through technology and prepaid energy model”.
Florian Peudevin, impact investing fund manager at Amundi mentioned, “We invest in Ilumexico through our Impact Investing fund in order to support the development of this successful social enterprise. Access to energy should be filled for everyone, especially when this brings social improvements to population by allowing them to create professional activities, to enhance family time at night and to provide longer study time for children”.
Thus far, Ilumexico has installed over 26,000 solar solutions reaching over 125,000 people, with an installed capacity of 4.7 MW in Mexico, Colombia and the United States.
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