Engie launches crypto initiative to crowdfund solar projects

Engie launched its first crypto initiative in Africa to accelerate the use of off-grid solar solutions in sub-Saharan countries

In May, French energy company Engie launched its first crypto initiative in Africa to accelerate the use of off-grid solar solutions in sub-Saharan countries.

Engie partnered with the Swiss non-profit Energy Web, provider of the Energy Web Token (EWT) cryptocurrency, to create a decentralised crowdfunding platform where investors who deposit a certain amount of tokens for 12 months will receive a fixed 10% interest rate.

In only six days, the platform reached its investment target of 20,000 EWT, despite an initial pilot period set at two weeks.

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Source: African Business

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