Senegalese solar-home system business meets crowdfunding target
Touba Solar Rama, a solar home system enterprise in Senegal, has raised 32,000 euros through the crowdfunding platform TRINE.
The business produces different types of solar home systems to meet the energy needs of rural, off-grid homes and communities. The funds raised will enable them to purchased and distribute 185 systems in the region of Kédougou, south east Senegal, providing over 800 people with solar-powered lighting and phone charging.
Touba Solar Rama will use the loan to sell solar home systems in 10 different villages to buyers who have already expressed interest in the product. In the long term, they plan to continuously supply quality products in order to meet customers’ needs.
The social and economic impacts of this project have proven to be so high that we now aim to deploy over 500 systems throughout the country by end of its first year.
- Says Touba Solar Rama.
Within its Crowd Power programme, Energy 4 Impact supported the business by providing 50% protection on capital invested in the project. The funding from Energy 4 Impact provides first-loss protection to investors, in the event the loan is not repaid.
Crowd Power is a three year programme which started in May 2015. It is funded by UK Aid to stimulate, develop and learn from crowdfunding and apply it to renewable energy enterprises in Sub-Saharan Africa and Asia.
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