funding gap emerging markets
Mozambique

SolarWorks! 17

  • SolarWorks!
  • Direct investment
  • + 42 other investors
  • With a loan of EUR 16,750 SolarWorks! will be able to provide 80 Solar Home Systems to companies and families in Mozambique.

    €16,750
    Amount
    8.50%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€16,750
    Interest8.50%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 5 minutes on 28 October 2020.
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      Summary

      Warning

      In the coming period there are different conditions for this partner. More information can be found here.

      • The interest rate has been temporarily increased by 0,5 percentage point to accommodate the growing uncertainty associated with COVID-19.
      • In addition, this investee is allowed - provided they continue to comply with the applicable covenants - to refinance future repayments to Lendahand investors with the funds raised from this project.
      • Repayments occur after 12, 18 and 24 months, not after 6 months.

      SolarWorks! was founded in 2008 by industrial designer Bernard Hulshof and econometric Arnoud de Vroomen. The SolarWorks! development centre is based at the incubator of the University of Technology in Delft (The Netherlands). Here products design and R&D is conducted. The distribution of the Solar Home Systems is done in Mozambique, where over 80% of the 29 million inhabitants do not have access to electricity. Mozambique is an untapped market with fast growing mobile money penetration which is an important driver behind the fast growing sales of Pay As You Go sales.

      Arnoud de Vroomen is CEO of the company. He worked several years at Unilever and has been the director of Lemnis Solar. SolarWorks! also has a sales office in Johannesburg.

      With a loan SolarWorks will be able to provide Solar Home Systems to companies and families in Mozambique.

      Information document of the issuing company (NL)

      Information note of the issuing company (BE)

      Company nameSolarWorks! 17
      CEOArnoud de Vroomen
      Founded2008-01-01
      LocationMaputo
      SectorSustainable energy projects
      Turnover€2,800,000
      Employees150

      Impact

      SolarWorks! offers affordable solar home systems to families and companies in off-grid areas in Mozambique, where over 80% of the 29 million inhabitants don’t have access to energy. The arrival of electricity in a neighborhood has multiple positive impacts on the local economy and community. Lighting extends opening hours of shops, which results in increased wages. It improves security at night and allows children to study after dusk to obtain better results at school. 

      Electricity also provides people access to information through radios and to communication thanks to their charged mobile phones. A solar home system avoids the use of toxic fuels like kerosene and wood, which are harmful to health and cause respiratory problems due to their fumes. Within the company, 95% of their employees are locals, and they aim for a 50/50 gender mix.

       

      SDG’s impacted

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

      SDG 1. No Poverty

      SDG 7. Affordable and clean energy

      SDG 13. Climate change

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

       

      Related blog articles

      Read the introduction of SolarWorks! as a new investment opportunity here.

      Eager to learn more about clean energy projects on our platform? Read here

      During the 2020 Covid-19 pandemic, the demand for solar home systems increased significantly in emerging markets. Read more here.

      • With this investment 5 jobs are created
      • With this investment 400 lives are improved
      • With this investment 80 solar home systems are installed
      • With this investment 88 tons of CO2 are reduced

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      We have already contributed for SolarWorks! 17

      Peter Boot
      Edwin Tofield
      Benjamin Overkempe
      Anneloes Gerritsen
      Roger Klaver
      + and another
      42
      investors