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With a loan of EUR 100,000 WEnergy Global can build part of a solar hybrid power field installation in the Philippines.
IMPORTANT NOTE: high risk product - direct loan to solar company. No local partner in between to cover risks.
Basic info
Borrower: WEnergy
Global Pte. Ltd.
Currency: EURO
Amount: EUR 100K,
senior debt, part I (of EUR 500K)
Maturity: 36 months,
semi-annually and linearly amortizing
Collateral: None
Interest rate: 6%
p.a.
1st loss
capital: UK Aid backs this project! UK Aid invests EUR 20K via the 'Crowd Power' program run
by Energy4Impact. This effectively means that there is 20% first-loss protection, reducing your risk for your investment. At
each repayment date Crowd Power will only be repaid if the crowd is repaid in
full for that specific repayment.
Direct loan
This is a direct loan to a company (rather than lending to a financial institution) and therefore it is recommandable that you are careful with the amount you will invest.
Summary of the campaign
WEnergy Global Pte. Ltd., a company based in Singapore, is active in project development, designing, building, (partial) owning and operating renewable energy power infrastructure with clear and focused actions on the ground in South East Asian countries.
The company’s projection is to deliver a minimum of 800 MW of renewable energy systems principally in South-East Asian countries over the next 8-10 years, focusing on solar power systems, tidal and wind technologies, small hydro-power and biomass-based energy installations. Of this projection, the Company has developed a portfolio of 213MW to be implemented between 2016-2019. This 213 MW is equal to 213 million watts, which can power approximately 1 million households enabling people to perform economic activities, going beyond just a light bulb. South East Asia has over 120 million people without access to electricity.
The company has developed the Sabang Project, which is near the Puerto Princesa Underground River Area, a UNESCO World Heritage Site. The project aims at boosting social and economic development while encouraging sustainable tourism. The project is at its final stage before start of construction – expected in October/November 2016 - in Barangay Cabayugan, Palawan, The Philippines.
The project has the following features:
The power plant is designed to set an example for rural or off-grid electrification using renewable energy. The architecture of the power plant has been inspired by the culture of the local indigenous communities. The power plant includes an Expo Center aiming to invite tourists (almost 85% of all the 300,000 tourist travelling to the region are Philippine nationals) to learn about renewable energy in the ‘energy mix’. This Expo Center will work closely with the City Government and several other national and international parties to enhance awareness in the area of renewable energy and energy-saving technologies.
It’s important to note that the diesel generators are still required due to the fact that solar power is only generated during daytime and people, businesses, and hospitals for example, also rely on power at night or when the sun is less strong. The solution of using solar power in the mix, allows a reduction of approx. 50% of diesel in the years to come and therefore provides much cleaner and cheaper energy to the people and businesses in the region. Over time, the project intends to increase its solar PV base and substitute fossil diesel fuel with biodiesel, once economically feasible and available, to further increase the proportion of renewable energy in the mix.
This loan will impact approx. 650 small and large off-takers. From households, to small businesses, to small, medium and large hotels and resorts, to schools and eventually medical centers. Imagine how many lives will be impacted by having access to cleaner energy due to this project, and you can contribute by lending-a-hand!
About WEnergy global
Vision & Mission
WEnergys vision is to become a major quality provider of renewable energy systems solutions with fair and attractive returns on investments, inspired by the broader principles for sustainable life-styles and joyful-living, through global partnerships and engagement with stakeholders.
Their mission is to develop, plan, design, build, co-own and operate renewable energy systems for users at national, local, and individual industrial and household-scales, on-grid or off-grid.
The aim of the company is to deliver a minimum of 800 MW of new renewable energy capacity in emerging economies in the next 8 years through solar power systems, biomass energy systems, wind-power technologies and small-hydropower systems.
Management Team
Atem Ramsundersingh: CEO, with over 25 years of international experience with business and project development in emerging economies. Worked at the World Bank and UNESCO-IHE Institute for Water and Environment (Delft, NL) among others, and holds a Masters Degree in Infrastructure Engineering from Delft University of Technology.
Fabian Weber: Head of Systems Design & Engineering, with over 12 years of experience in plant design, construction & monitoring of solar PV and hybrid power systems with energy storage. Worked at SunEnergy Europe GmbH and holds a Masters degree from the Technical University of Berlin and a Masters degree from the Ecole Nationale des Points et Chaussees in Paris.
Robert de Groot: Lead Transmission & Distribution Engineer, with over 5 years of experiences and deep knowledge in electrical modeling, design and engineering of smart micro-grids with energy storage systems, related power management, O&M management planning. Worked with ENEXIS B.V. in The Netherlands and holds a Masters Degree in Electrical Engineering from Eindhoven University of Technology; expected to complete his PhD in Electrical Engineering at TU Eindhoven by end of 2016.
Agnes Valentine: Senior Energy Investment Specialist, with over 8 years of experience and knowledge in energy investment structuring & finance in high stakes environments in ASEAN. Worked with PT Jawa Power, the power supplier of the Java - Bali grid in Indonesia, PT Ferrostaal Indonesia, a full subsidiary of Ferrostaal GmbH, and Mission NewEnergy Pte Ltd in Malaysia. She holds a Masters Degree in Corporate Finance from the Southern New Hampshire University, USA.
Anne Marie Bakker: Head of Philippines Office, based in Philippines with over 20 years of international work experience in water and environment, financial management, business development and philanthropic activities. Worked with Nedlloyd, Deutsche Börse, Clearstream International, GE Advanced Materials, Qatar Financial Centre, Tyco and the UNESCO-IHE Institute for Water in The Netherlands. She holds a BA Honours in Commercial Economics from School of Economics, Rotterdam and a Masters in Finance from EDHEC, Nice, France.
Besides the management team, there is an experienced Board of Directors with over 150 years of combined experience in international business, project development, finance and investments, renewable energy and engineering and project execution and operations.
Previous projects: http://www.wenergyglobal.com/projectsub/solar-projects/
Awards
2014 – Erasmus Centre for Future Energy Business, RSM, Erasmus University (in Rotterdam)
2016 – Dr Albert Winsemius Award 2016 for Innovation & Sustainability (Category “Rising Stars”)
(second on the left CEO Atem Ramsundersingh)
Documentation
Our local partners cover the risk of currency exchange rates and loan defaults. They do this by maintaining financial reserves for this purpose . In addition, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to funders, our local partners face risks of their own that could effect their ability to secure a loan. These include: - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.
If you invest direct in a company, hence not via a local partner, risks of default are not covered. As the risk that comes with direct lendings is generally higher than an investment through a local partner, the interest rate is also higher.
There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding loans at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.
Local partners must adhere to our mission and work with us to provide loans that are affordable. This insures that local entrepreneurs have access to financing that allows them to grow their business. A local partner must also have a track record. In other words, they must have proven themselves as a meso-credit provider for SMEs. This means (for instance) that the partner must have a solid credit portfolio, along with enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the partner's total balance sheet. A healthy balance between effectuating influence and independence is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via info@lendahand.com.
When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenario's the local partner is contractually obliged to comply with these demands.
Lendahand will always conduct due diligence when a Company requests for a direct loan. To provide more insights on risks, an independent partie comes in to perform brief analysis on direct loans. The results can be downloaded on the project detail page of the direct loan. However, this analysis serves primarily as a tool for your own opinion and conclusion. Pay attention to the fact this analysis is not an investing advice.
Normally we don't. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason Lendahand only selects financially solid partners based on strict criteria.
Also, for most direct loans no guarantee is provided. For these investments currency risks are covered however.
Sometimes - and only for some direct investments in Africa - our partner Sida, part of the Swedish government, will provide a guarantee with a maximum of 50%. If this is the case, it will be indicated explicitly.
Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements of EUR 125,000 following its license as required by De Nederlandsche Bank (DNB).
Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year.
We adhere to strict safety requirements with regards to private and payment details. All sensitive data is sent through an encrypted connection (https). Also, data is stored (encrypted) in a secured facility provided by AWS: the world largest hosting service. Customer documents can only be retrieved by a secured connection and multi-factor authentication.
Our local partners and Companies bear the exchange rate risks. We settle the loan, redemptions, and interest payments in euro.
If Hands-On BV (containing the brand name Lendahand) would go bankrupt trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your personal wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then in consultation with a trustee handle all repayments between the investors and investees up until the final repayment of the last project has taken place.
Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses who have trusted money and or financial instruments (such as notes or options) to a licensed bank, investment firm or a financial institution in case the financial firm is unable to meet its obligations arising from claims related to the investment service (in other words, if Hands-On BV is not keeping track of the acquired notes by investors in the Wge depot correctly). The ICS guarantees an amount of up to EUR 20,000 per individual. For more information, go to www.toezicht.dnb.nl/en/2/50-202210
| Total assets | €612,698 |
| Revenue | €701,766 |
| Leverage ratio | 18.80% |
| Solvability | 23.00% |
| Liquidity | 35.00% |
+ 102 other investors