funding gap emerging markets
Ghana

REDAVIA GmbH 18

  • REDAVIA GmbH
  • Direct investment
  • + 708 other investors
  • With a loan of EUR 330,000 REDAVIA will pre-finance, procure, import and install another 5 solar units of 351 kWp for medium enterprises in Ghana and Kenya.

    €330,000
    Amount
    5.50%
    Interest
    18 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€330,000
    Interest5.50%
    Maturity18 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 11 hours on 10 January 2022.
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      Summary

      Basic info:

      Issuer:                                      REDAVIA GmbH
      Currency:                                 EUR
      Amount:                                   330,000 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. 

       

      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 and Kenya access to clean and affordable energy. Freed cash from this repayment funding will flow into solar assets for seven further solar Units that have been committed. With a loan, REDAVIA will pre-finance, procure, import and install up-to solar Units into leases with (C&I) customers in Ghana and Kenya. To date, REDAVIA has installed 100 solar Units and operates them in line with Ghanaian and Kenyan regulations under lease-to-own contracts, with an average lease term of 12 years. REDAVIA is proud to continuously extend its portfolio of Leases during the COVID-19 crisis and contribute with low cost and clean power to its customers well-being, conserving cash, maintaining or restarting system-critical operations and retaining local employees such as with Methodist University College in Ghana. This loan will enable the companies to use up to 466 MWhs per year of clean energy, impacting a total of 400 employees and other stakeholders.

      All funded Units follow REDAVIA’s standardized specifications of FTS-80GM, FTS-40CP, or FTS-60RM. 40-foot containers are packed with solar panels, prefabricated aluminium or steel frame structures, inverter systems and cabling to connect the panels to strings and to the inverters; the containers will then be shipped to Ghana and Kenya. Further cabling, concrete blocks and other local material is purchased locally and expedited to the customer site. Once the materials have 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 and Kenya for the next three years.

      Impact

      In Ghana to-date:

      • REDAVIA has produced 4,400 MWhs of clean energy and each ground mount solar Unit adds p.a. 120 MWhs, carport Unit adds p.a. 60 MWhs, and roof mount Unit adds p.a. 95 MWhs.
      • In total, this accumulates to 2,300 tons of CO2 abated with each solar Unit reducing another p.a. 55 tonnes of CO2 (FTS-40CP p.a. 27 tonnes, FTS-60RM p.a. 41 tonnes)
      • REDAVIA’s customer portfolio in Ghana gives more than 20,000 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 85 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 10 local team members in Ghana and Kenya and trains them on a regular basis 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. 

       

      Highlights or Awards:

      • Frost & Sullivan’s Best Practices Award 2014

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

      Company nameREDAVIA GmbH 18
      CEOErwin Spolders
      Founded2011-10-17
      LocationMunich
      SectorAgriculture
      Turnover€1,150,000
      Employees15

      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 10 jobs are created
      • With this investment 400 people are reached
      • With this investment 5 solar home systems are installed

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      We have already contributed for REDAVIA GmbH 18

      Marvin Göbbels
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