Azuri Technologies (Cambridge, UK) on March 14th,
2017 announced that a TRINE crowdfunding project to bring clean energy
to an estimated six thousand people in Kenya has been successfully
funded.
The KES 17 million (approx.EUR 106,000) of debt
finance will enable Azuri’s partner Raj Ushanga House to deploy 1,200
Azuri solar PV home systems, providing solar power to approximately
6,000 people whilst enabling local businesses to flourish.
The project is TRINE’s first “A” level risk rating
to date and is one of the fastest to reach its original fundraising
target, well ahead of schedule, Azuri notes.
TRINE aims to tackle energy poverty through closing
the gap between private capital in developed countries and local solar
partners in emerging markets. In contrast to microfinance where large
investors make many small loans, crowd funding allows many small lenders
to provide substantial finance to organisations with the reach and
scale to deliver significant impact.
The for-profit nature of TRINE means that its
projects are economically viable as well as delivering a long-term
social and environmental benefit.
“We congratulate Raj Ushanga House and TRINE on this
successful and innovative crowd-funding campaign. Crowd funding is
clearly no longer just for start-ups and has the potential to provide a
new class of capital for energy access,” comments Simon
Bransfield-Garth, CEO of Azuri.
source: http://www.solarserver.com
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