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Nigeria

African Energy

  • African Energy
  • Invest in a business
  • + 642 other investors
  • With a first loan of EUR 240,000 new partner African Energy will be able to purchase a container of batteries and solar panels, which will be used by two universities in Abuja, Nigeria to replace diesel generators. **please note: this project contains an exchange rate risk EUR/USD)**

    €240,000
    Amount
    5.00%
    Interest
    9 months
    Maturity
    3 months
    Repayments
    USD
    Currency
    Amount€240,000
    Interest5.00%
    Maturity9 months
    Repayments3 months
    CurrencyUSD
      100%
      Fully funded in 12 days on 28 February 2023.

      The project

      Summary

      African Energy is a wholesale distributor of solar and back-up power equipment to Africa. They provide high quality solar electric components, training to install them properly, and business support with finance and coaching to enable entrepreneurs to build successful solar businesses. They stock most solar equipment in depots in 10 countries, to allow installers to have access to quality products locally and implement their projects quickly. 

       

      Mission

      To supply high quality equipment to the best solar installers in Africa.

       

      Vision

      To create a viable solar energy market that is financially sustainable for our customers, suppliers, and partners.  

       

      Use of Proceeds / Loan purpose

      With a first loan of EUR 240,000 new partner African Energy will be able to purchase a container of batteries and solar panels, which will be used by two universities in Abuja, Nigeria to replace diesel generators.

       

      Some Applications

      The solar equipment we supply is installed in many productive use applications across Africa and they benefit a wide range of communities. Some of the latest productive use applications are the following:

      Milk cooling project for Milk collection centers and Milk distribution in Rwanda. Our customer (CLEAN ENERGY TECHNOLOGIES) recently completed installation of 45kw PV array with 85Kwh energy storage using WeCo batteries at Rwimbogo Dairy Cooperative. The installed solar system is helping farmers in the Eastern province of Rwanda to preserve more than 5000 liters of fresh milk per day at the collection center, where milk is collected from small cattle owners twice a day. It is then cooled in 3000L tanks to controlled temperatures to prevent the milk from being spoiled before it is collected by INYANGE dairy processors for further processing, packaging, and distribution to retail outlets.  

      Electrification of a remote island off the coast of Tanzania: Our customer, Photons Energy, a Arusha-Based solar company, designed, supplied, and installed two solar PV minigrids on two small islands -- Kokota and Njau—that are part of many islets on Pemba Island, off the coast of Tanzania. Total energy installed is 131kw of PV and 245KWH of WeCo Lithium batteries. These Minigrids are expected to provide more than 190MW/yr of energy to the two remote islands that had never had any type of reliable power. More than 680 residents of those islands are now enjoying clean reliable power, and the economic activities are expected to boom.

      Company nameAfrican Energy
      CEOPatrick Nduwimana
      Founded2002-07-13
      LocationArizona
      SectorSustainable energy projects
      Turnover$10,500,000
      Employees10
      Credit scoreB+

      Impact

      African Energy provides solar electric equipment, the training to install them properly, and the business support to enable entrepreneurs to build successful solar businesses across the African continent.

      With their activities and operations, African Energy provides solar-powered water pumps to farms and agricultural smallholders that reduce pumping costs and improve yields thanks to irrigation. Health clinics and hospitals have been a primary market for their products, starting from small lighting systems up to solar water pumping systems that provide clean drinking water and reduce the number one cause of ill health in Africa. Students benefit from solar energy at school as it powers computers and even keeps the classroom cool, thanks to air conditioning. 

      In terms of economic growth, African Energy systems keep critical infrastructure operating on or off the grid across Africa every day by installing reliable backup systems. This allows for higher economic growth and more stable employment.

       

      SDGs impacted

      With this project, you are contributing to the following Sustainable Development Goals:

      1 - No Poverty

      2 - Zero Hunger

      3 - Good Health and Well-being

      4 - Quality Education

      6 - Clean Water and Sanitation

      7 - Affordable and Clean Energy

      8 - Decent Work and Economic Growth 

      13 - Climate Action

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      Related blog posts

      You can read the introduction of African Energy on Lendahand here.

      Good energy comes with good money.

      Demand for SHS since COVID.

       

       

      • With this investment 10 jobs are created
      • With this investment 50 solar home systems are installed

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      We have already contributed to African Energy

      Jan de Wit
      Ton Van der Meer
      Anastasios Krommydas
      Robert Roose
      Klaas Mosterd
      + and another
      642
      investors