More from: rural electrification

SunFunder Announces Closing of US$2.5 Million Funding Round with Schneider Electric – Both Investors in Arc Partner Organizations

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Solar finance startup SunFunder, an investor in Arc Finance partner SolarNow based in Uganda, has closed a US$2.5 million Series A funding round, a milestone for investment in off-grid, small-scale solar. Alongside support from Khosla Impact and Better Ventures, SunFunder secured funding from Schneider Electric, a major multinational player in energy products and key investor in Arc partner Simpa Networks, which manufacturers and distributes solar home systems with a proprietary metering system in Uttar Pradhesh, India.

Solar Microgrids in Odisha: Arc Partner Mahashakti Foundation Electrifying Off-Grid Villages

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Mahashakti Foundation (MSF) is one of Arc Finance’s partner organizations under the Renewable Energy Microfinance and Microenterprise Program (REMMP) funded by USAID. An NGO-MFI based in the Indian state of Odisha, MSF has, with Arc’s support, provided loans for efficient cookstoves and solar portable lighting under REMMP. In recent months, MSF has taken on a more ambitious program: connecting rural, off-grid villages to solar microgrids. Durmusi and Totaguda are two examples of how a partnership between the financial institution, investors, developers and the villages can connect households to reliable, clean and affordable lighting – providing significant and positive economic, social [...]

Innovative Consumer Finance Mechanisms for Small Scale Off-Grid Energy

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Efforts to provide energy access on a commercial basis to rural populations in developing countries face a range of challenges, including access to finance. Off-grid customers from lower income communities currently pay a high price for purchasing kerosene for basic lighting services and switching to renewable energy based systems would not only save them fuel-costs but also improve their overall quality of life. However, the high upfront cost of the renewable energy based systems (handheld devices and stand-alone systems) restricts them from making this switch. This is identified as a major barrier by all stakeholders committed to the delivery of [...]