Solar scheme to raise £2.5m a year for African energy
A crowdfunding initiative aims to generate £2.5 million each year to provide families in Rwanda, Togo and Nigeria with access to affordable solar energy.
The scheme, launched by utility BBOXX and online investment platform Lendahand Ethex, plans to supply sub-Saharan African communities with smart, affordable and clean energy solutions.
The funding programmes’ first offer aims to provide 2,500 rural Rwandan households with solar systems – currently, 81% of the population cannot access mains electricity.
Customers typically pay around £3-5 per month on a Pay-As-You-Go basis.
The scheme was implemented to accelerate progress towards the achievement of the UN’s Sustainable Development Goal of ensuring access to affordable, reliable, sustainable and modern energy for all people by 2030.
The UK will provide matched funding of 25% of the campaign value.
Danny den Hartog, Managing Director of Lendahand Ethex, said: “Through Energise Africa we are providing solar businesses with an alternative low-cost finance option that ultimately creates a win for our investors, a win for the solar businesses and a win for African families.”