funding gap emerging markets
Ghana

REDAVIA GmbH

  • REDAVIA GmbH
  • Direct investment
  • + 772 other investors
  • With a loan of EUR 500,000 REDAVIA will pre-finance, procure, import and install 10 solar units of 84 kWp each for 10 commercial customers in Ghana.

    €500,000
    Amount
    5.50%
    Interest
    18 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€500,000
    Interest5.50%
    Maturity18 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 6 days on 31 July 2019.
      Choose amount
      Invest from €50
      Average investment
      Based on all Lendahand historical investments
      Complete funding
      Project will be fully funded

      Summary

      IMPORTANT NOTE: high risk product - direct loan to renewable energy product distribution company. No local financial institution in between to cover risks.

      Basic info:

      Issuer:                                       REDAVIA GmbH
      Currency:                                 EURO
      Amount:                                   EUR 500,000 senior debt
      Maturity:                                  18 months, semi-annually and linearly amortizing  
      Interest rate:                            5.5% p.a.
       

      Direct investment

      This is a direct investment in a company (rather than lending to a financial institution) and therefore it is recommendable that you are careful with the amount you will invest. 

      Documentation

      ·         Information document of the issuer

      Summary

      REDAVIA is an industry leader in solar power. We provide solar farms to businesses and communities in West and East Africa. With a proven track record in cost-effective, reliable and clean energy, REDAVIA is committed to using solar energy as a key driver for sustainable development.

      The innovative REDAVIA pay-as-you-go system consists of a pre-configured Unit containing solar modules and electrical components. Once the Unit is on-site, our REDAVIA-trained, local specialists manage the installation, operations and maintenance of each solar farm.

      Our carbon neutral solution can be used to support existing power structures by supplementing the utility grid or on-site diesel generators. Through our flexible lease agreements with just a minimal upfront investment, our customers can reduce costs and increase their operational flexibility.

      Watch the intro movie here

      The project

      REDAVIA’s solar plants give commercial and industrial (C&I) companies in Ghana access to clean and affordable energy. With a €500,000 loan, REDAVIA will pre-finance, procure, import and install 10 solar Units of 84 kWp each into leases with (C&I) customers in Ghana. To date, REDAVIA has installed 21 solar Units and operates them in line with Ghanaian regulations under lease-to-own contracts, with an average lease term of 12 years. Twenty-five further solar Units have been contracted, and REDAVIA has already ordered 14 Units to supply the open contracts. Regional Maritime University, Movelle Company (agrofoods business, specifically fish trading) and Special Ice Company Ltd (soft drink factory) are among the customers who will receive these Units. This loan will enable the companies to use up to 1200 MWhs per year of clean energy, impacting a total of 15 000 employees and other stakeholders. We are especially proud of extending the reach of our clean energy further into Regional Maritime University housing and being able to use our solar Units as a training ground for students in their engineering classes.

      The 10 solar Units to-be-funded follow REDAVIA’s standardized specifications of the FTS-80GM. Five 40-foot containers will be packed with solar panels, prefabricated aluminium frame structures, inverter systems and cabling to connect the panels to strings and to the inverters; the containers will then be shipped to Ghana. Further cabling, concrete blocks and other local material is purchased in Ghana and expedited to the customer site. Once the material has arrived, the container is unpacked, and a solar plant is installed within 2 days.

      REDAVIA expects to deploy around 5 MWp of solar capacity per year to leases in Ghana for the next three years.

      Impact

      In Ghana to-date:

      • REDAVIA has produced 1500 MWhs of clean energy and each solar Unit adds p.a. 120 MWhs
      • In total, this accumulates to 650 tons of CO2 abated with each solar Unit reducing another p.a. 55 tons of CO2
      • REDAVIA’s customer portfolio in Ghana gives more than 17 000 workers and residents access to clean energy.
      • REDAVIA’s customers not only own the solar equipment after the lease contract is complete, but also achieve > 5% of monthly savings on the energy delivered, i.e. an average of a hundred US Dollars per month per solar Unit of 84 kWp. Customers can reinvest these savings into their businesses for further growth. 
      • REDAVIA works with the Regional Maritime University to support RMU’s newly accredited ‘Renewable Energy Engineering’ curriculum, which aims to educate and prepare students for engineering jobs in the renewable sector, ensuring ongoing, sustainable development in Ghana, as well as contributing to the creation of jobs and wealth within the country.
      • REDAVIA hired 5 local team members and trained them along with more than 20 contractors and suppliers.

      Description of Vision & Mission:    

      Our vision is to be the global market leader of cost-effective, reliable lease-to-own solar power solutions for businesses and communities, reducing emissions by over 100k tonnes/year and providing clean electricity access to around 650k people by the end of 2021.

      Our mission is to provide cost-effective, reliable and clean solar energy, enabling businesses and communities to grow sustainably.

      Management team:

      Erwin Spolders, Chief Executive Officer:

      Erwin Spolders is the CEO and founder of REDAVIA. Erwin has over 12 years of experience in solar farm construction and sustainability measures. Prior to founding REDAVIA, Erwin was a director of Q-Cells’ solar farm construction business for the EMEA region. Before, he led McKinsey & Company’s activities surrounding the business impact of climate change. Erwin earned his bachelor’s degree in Business and International Relations from the University of Virginia and his MBA in Finance, Marketing and Entrepreneurship from the Wharton School, University of Pennsylvania in the U.S.

      Oliver Keilhack, Chief Financial Officer:

      Oliver Keilhack is the CFO of REDAVIA and has over 20 years of experience in entrepreneurial finance. He has had CFO positions in a series of venture capital driven biotech and high-tech organizations, including German clean-tech venture Micropelt and oncology diagnostics venture AdnaGen. Previously, Oliver was a board member at Trade2B and involved in the SynerTrade Group, after spending a number of years in international, executive roles at Mannesmann. Oliver earned a master’s degree in Business and Administration from WHU – Otto Beisheim School of Management in Germany.

      Alexander Harpe, Chief Sales Officer:

      Dr. Alexander Harpe is the CSO of REDAVIA and has over 20 years of experience in sales and corporate business development. Alexander’s long-standing, international career has included senior executive roles at Forrester, Fujitsu, IMS, Accenture, and IBM Global Business Services. He earned his bachelor’s degree in Political Science and Information Technology from the Ludwig-Maximilian University of Munich, Germany, his PhD in Electrical and Optoelectronic Engineering from the University of Oxford, England and his MBA in International Finance, Marketing and Strategic Management from the Wharton School, University of Pennsylvania in the U.S.

      Highlights or Awards:

      • Frost & Sullivan’s Best Practices Award 2014

      Previous realized projects: https://www.redaviasolar.com/

      Company nameREDAVIA GmbH
      CEOErwin Spolders
      Founded2011-10-17
      LocationMunich
      SectorSustainable energy projects
      Turnover€844,000
      Employees20

      Impact

      Redavia provides solar farms to SMEs in East Africa. It allows customers to significantly reduce energy costs, diminish carbon emissions and increase operational flexibility. The benefits of solar energy enable companies to expand their businesses sustainably and hire more employees in their communities. With 17 solar farms in operation throughout Ghana, Kenya, and Tanzania, Redavia has impacted the lives of 25,000 people so far by providing access to clean energy and creating much-needed jobs.

      Together with the Regional Maritime University, Redavia also helps engineering students find jobs in the renewable energy sector, ensuring ongoing, sustainable economic development in Ghana.

       

      SDGs impacted

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

      SDG 1 - No Poverty

      SDG 7 - Affordable and clean energy

      SDG 8 - Decent work and economic growth

      SDG 12 - Responsible consumption and production

      SDG 13 - Climate action

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

       

      Related blog posts

      • Want to learn more about REDAVIA? Read our email interview with CEO Erwin Spolders here.
         
      • During a visit to a Redavia solar farm in Kenya, we saw the impact it makes on a company and local community. Read the full story here
      • With this investment 15000 people are reached
      • With this investment 10 solar home systems are installed
      • With this investment 550 tons of CO2 are reduced

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      We have already contributed for REDAVIA GmbH

      Dieske Kruisselbrink
      Lot Hagenaars
      Erwin Spolders
      Marcel Linssen
      Thomas Maas
      + and another
      772
      investors