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.
Ugandan solar enterprise SolarNow uses a franchise distribution model for Solar Home Systems combined with an in-house credit facility to reach rural customers
SolarNow is an energy enterprise in Uganda, and an Arc Finance partner under the USAID-funded Renewable Energy Microfinance & Microenterprise Program (REMMP). Established as a social enterprise in May 2011, SolarNow grew out of the Rural Energy Foundation, a Dutch NGO providing distribution and training support for the use of Solar Home Systems (SHS) with market experience across Africa. SolarNow uses asset finance to provide electricity to off-grid rural communities through modular, expandable SHSs, and distributes an [...]
Arc/REMMP’s five-branch energy finance pilot program begins in Uttar Pradesh
As one of India’s most successful and dynamic microfinance institutions (MFIs), Utkarsh is one of Arc’s most exciting partner organizations under its USAID-funded Renewable Energy Microfinance and Microenterprise Program (REMMP). The partnership offers a fantastic opportunity to “piggyback” Utkarsh’s nascent energy lending program on top of its underlying vigorous growth. Following a multi-month process, Arc Finance’s pilot program with Utkarsh has just begun renewable energy finance operations in Uttar Pradesh.
Stima Systems is a Kenya-based energy startup that delivers affordable lighting and charging services to low-income off-grid customers using a distinct payment model: the group microlease. In this conversation Stima CEO Konrad App shares the origins of Stima’s model and provides insights into the power of groups to expand access and support commercial viability.
SunnyMoney is a social enterprise that was spun off from the NGO, Solar Aid, in 2011. While Solar Aid focuses on installing solar systems into schools across several countries in Africa, SunnyMoney focuses on selling solar lanterns. In just a few years since its launch, SunnyMoney is already reaching sales levels of tens of thousands each month, growing very quickly in Kenya, Tanzania, Malawi and Zambia. The company employs a unique sales and marketing approach called “The SunnyMoney Way,” which works closely with education authorities, incentivizing head teachers in geographically defined regions to promote the benefits of solar [...]
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Fenix International is a Silicon Valley based renewable energy company that designs and manufactures income generating energy solutions for mobile telecoms in emerging markets. The company has developed the ReadySet, a plug-and-play smart battery that charges by solar panels or bicycle dynamo to power mobile phones, lights, and many devices powered by USB or Car Lighter Adapters. The ReadySet is sold by MTN, Africa’s largest mobile phone company, through its network of retail outlets in Uganda. The end customers are micro entrepreneurs who use the ReadySet to make additional income from charging phones in off-grid rural areas.
Founded in 2010, Solar Sister is an energy company that promotes access to affordable solar lamps and small solar systems in communities in Sub-Saharan Africa. Using an Avon-style distribution system, Solar Sister builds and extends the supply chain through women’s rural networks by providing women with a “business in a bag”: a start-up kit of inventory, training and marketing support.
Arc Finance talks with Katherine Lucey, CEO of Solar Sister, about the process Solar Sister uses to support rural women to become micro-entrepreneurs and how it enables rural women to earn an income in a flexible way, doing as much or little [...]
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