Nearly 800 million people* live without access to clean, affordable and reliable electricity. More than one third of the world’s population** has no access to clean cooking solutions, leading to nearly four million deaths a year from indoor air pollution.***
By financing renewable energy providers, Oikocredit helps these partners become stronger sustainable and social businesses. As our partners grow stronger, they reach more customers with products and services meeting the needs of low-income people and increasing their access to clean energy.
Increased access to clean energy contributes to improved living standards and health and to empowering low-income people with opportunities such as using clean energy to power income-generating activities.
How do we create impact in renewable energy?
We invest in projects that focus on social impact, in particular:
- Providing off-grid households with electricity through solar home systems
- Constructing and operating solar mini-grids for rural communities
On-grid infrastructure projects serving energy-poor communities
- Using renewable energy technologies like solar, wind, hydropower and biomass
- Offering clean alternatives to traditional cooking methods such as burning wood by switching to efficient stoves
- Reducing negative impact on health and the environment (CO2 emissions, deforestation)
Focusing our work in renewable energy in this way ensures we only invest where there are obvious benefits for local communities, such as improved living standards and health.
*World Bank 2020, SDG7 Tracking: The Energy Progress Report
***World Bank 2018, Household Air Pollution and Health Fact Sheet