Electrify.Solar
The Beginning of the End to Energy Poverty
Pioneering a disruptive financing method for renewable energy projects in emerging and developing markets to solve the scalability challenge
Welcome to Electrify.solar
Approximately 9% of the World’s population – more than 700 million people – lack access to electricity.
Energy poverty is real poverty. The poorest countries in the world have the highest energy cost – both in absolute and relative terms.
Plentiful and cheap solar resources, enabled by the falling cost of solar energy, has the potential to change that.
A new way to finance solar projects is the catalyst.
Who We Are
Innovative Solutions for Renewable Energy Financing
Electrify.solar is established by a group of experienced renewable energy professionals to be an intermediary for the selling of rights to electricity (‘utility tokens’) from a renewable energy project to early electricity buyers, and to act as a virtual utility enabling the exchange of the rights/tokens for electricity from the project.
Electrify.solar’s core purpose is to circumvent debilitating challenges and financing complexity cost faced by smaller projects in emerging and developing markets by enabling projects to be financed through the forward sale of the electricity they will produce, rather than through the raising of debt and equity.
Remba Island Community Solar Example
Remba Island is a Kenyan Island in Lake Victoria, close to Uganda.
It is home to about 7300 people, including about 2,800 men, 3,000 women and 1,500 children, whose livelihood is based on catching and processing fish from Lake Victoria.
Since 2017, a 21kWp solar microgrid has been operating on the island, supported by a 144 kWh battery solution and a 12 kVa diesel generator for balancing demand. Currently, 160 customers are connected to the microgrid, including the telecoms antennae of Safaricom, the local clinic and police station, as well as PFP projects piloting poultry and vegetable farming and sports facilities.
The microgrid sells power on Pay-As-You-Go basis where customers pre-pay for power at a fixed tariff, using an M-Pesa provided payment solution.
Electrify.solar aims to finance the expansion of the generation capacity to a total of 180 kWp, with the installation of another 159 kWp of PV panels, supported by additional battery capacity of approx.. 790 kWh. This nearly 9x expansion of the project will generate an additional 665 kWh of green power per day, reduce the cost of electricity paid by the consumer to approximately half, save over 350 tons of carbon emissions over 5 years as compared to diesel generated power, and enable additional commercial uses incremental to human and economic development.
