How We Work
We Are The Catalyst
Electrify.solar will act as an intermediary between the initial buyers of electricy from a project and electricity consumers, ensuring transaction quality and transparency in capital usage under a disciplined and well-tested governance model commonly used for investments in renewable energy projects
Selecting the most promising projects
Only projects deemed to be economically viable are put up for funding.
Obtaining funding
Funding is being raised through the sales of electricity tokens for each project to the general public, each utility token representing one unit of electricity that the project will produce once it is operational.
Overseeing project construction
Electrify.solar oversees the construction of the project and pays the project developer against proof of them progressing against the agreed construction schedule.
Setting up the payment system
Electricity from the project can only be purchased using the project specific tokens under a Pay-As-You-Go system operated by Electrify.solar.
Repaying funders
Once issued, the tokens are freely tradable. So, when families and businesses want electricity, they can purchase the tokens from the investors, either directly or via intermediaries.
Process Quality Throughout the Project Lifecycle
Four steps with key activities
Step 1: Project Selection
Projects are presented to Electrify.solar by development partners or the general public. The project documentation is reviewed by Electrify.solar. Projects making it through the screening process are presented to an independent investment committee by a designated Electrify.solar project manager. A project brief and awareness campaign is developed, with an associated marketing budget
Step 2: Fund-Raising
Projects are presented to initial electricity buyers, who are invited to purchase utility tokens representing the right to future electricity produced by the project, using a variety of payment options. The buyers have the choice between having Electrify.solar administering their tokens or have their tokens transferred to their crypto-wallets. Projects reaching their funding goals are passed on to construction and the utility token becomes tradable. Projects which do NOT reach their funding goals are canceled, tokens destroyed and funds returned to contributors
Step 3: Project Construction
A ring-fenced legal entity is established for the project by Electrify.solar and capitalized by fund-raising proceeds. An Engineering, Procurement and Construction ("EPC") Contractor and a separate Construction Manager is procured. Payments are then made by Electrify.solar against documented progress versus construction milestones. Before commercial operations commence, Operator and Maintenance agreements are established with independent entities. Construction progress, social impact, and underlying documentation is published on designated web-page, so that the initial electricity buyers can follow the progress of the project.
Step 4: Project Operations
Electricity consumers obtain electricity by purchasing the electricity tokens from the initial electricity buyers, and by sending their tokens to a designated project account operated by Electrify.solar as pre-payment for electricity. Receiving the tokens, Electrify.solar tops up the balance of their smart-meters with the electricity credit purchased. Electrify.solar also monitors the performance of the community solar plant thorough a cloud based performance system, and manages the operations and maintenance provider to resolve any issues.