Le projet

IMPORTANT NOTE: high risk product - direct investment to solar power product distribution company. No local partner in between to cover risks.

Basic info:

Issuer: Sollatek Electronics Kenya Ltd. 
Currency:  EUR 
Amount: 120,000
Maturity: 36 months, semi-annually and linearly amortizing 
Collateral: N.A.
Interest rate: 5.5% p.a. 

Direct investment

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

Documentation

• Due diligence:
  • INRiSC: credit analysis write up (download here)
• Sollatek Business Presentation (download here)

Company Background

Sollatek Electronics Kenya Ltd is an East African leader in supplying clean reliable on and off grid energy solutions. We have been in operation since 1985 as the sole authorised agent for Sollatek products and the owner of the Sollatek franchise in East Africa. Our Head Office is in Mombasa, Kenya and sales office in Nairobi, Kenya. We operate as a wholesale and last mile distribution outfit, selling our products through a region-wide network of distributors, hardware, electronic shops, supermarkets, NGO and Co-operatives. We provide installation services, comprehensive after sales care and hassle free warranty services on all our products.

Our on-grid division supplies and installs voltage protection range includes voltage switchers, stabilisers, and uninterruptible power supplies (UPS).  These devices assist businesses from small to large avoid losses, monetary and efficiency, due to unreliable power by keep their businesses, homes, and lives working uninterrupted.

The Sollatek Solar Division supplies complete turnkey solar systems and ancillary equipment including solar energy systems, solar modules, charge controllers, batteries, solar home systems and portable lanterns. We offer a wide range of affordable and quality product to cater to all the different financial capabilities of end users in Kenya.

As a Company we believe in access to affordable clean energy for all. Currently only 12.6% of Kenya’s rural population is connected to grid power. For the estimated 30 million people without a connection, solar energy is one of the most reliable and cost effective solutions. Beyond lack of access to grid power, 49% of the rural populations live at the poverty line as defined by the World Bank, which means they have limited or no disposable income for managing the high upfront costs of some solar solutions.

Since 2009, we have sold over 700,000 portable solar lanterns and solar home systems in East Africa. Through this more than 3.5 million people have gained access to clear renewable energy as a result of Sollatek’s activities. We continue to strive to provide clean and reliable energy for all.      

In recent years, Sollatek has won two grants pursing the goal of universal energy access, the USADF Power Africa Off-Grid Challenge for Sollatek Solar Centers. We installed 15 income generating solar centers to run cold storage facilities and lighting for fishing coops along the Kenyan Coast. This project was a finalist in the African Innovation Awards. In 2015, SEKL was awarded a grant from Energy and Environment Partnership (EEP) for setting up an solar entrepreneur network across Kenya to encourage last mile sales and distribution of portable solar lanterns and solar home systems.    

The Project

To safeguard the beautiful Elerai Conservancy ecosystem, Satao Elerai has teamed up with Sollatek Electronics Kenya to install a 30 KW hybrid solar off-gird system to reduce their carbon footprint and encourage sustainable, environmentally friendly tourism.   

Satao Elerai Conservancy is a private conservancy, owned & managed by Satao Elerai and the local Masai Elerai community. It is located on the Eastern side of Amboseli National Park, protecting more than 10,000 acres of natural wildlife area.  The Conservancy forms the critical wildlife corridor linking the Kilimanjaro Forest Reserve in Tanzania and the Amboseli National Park. The Conservancy is characterized by a dramatic hilly landscape, which is cut through by a 30 meter deep ravine coming down from Mt. Kilimanjaro. It is here, close to Lake Amboseli that the concentration of wildlife intensifies, from the ever-present herds of elephant to the colorful birdlife.

Three partners, the privately and community owned Satao Elerai, the African Wildlife Foundation and the local Maasai Elerai community, established the Satao Elerai Community and Wildlife Trust with the objective to support the local Maasai communities through social projects and support wildlife conservation projects funded by the Camp’s eco-tourism.

The Camp was previously running on standard diesel generators, which consumed large amounts of Diesel and even on limited use released some noise and air pollutants into an otherwise pristine ecosystem. The move to solar hybrid platform is in keeping with the Conservancy & Camp’s goals. 

To power all the needs of Satao Elerai Camp, Sollatek is installing The Hybrid Energy System. A 30 KW hybrid solution including an 8 piece, 400W solar array which charges a 700AH Lithium battery bank as the first option for all the Camp’s energy needs. The equipment is connected to a DC generator that serves as back up to the charging system. It is monitored through an innovative online platform, which helps ensure the Camp’s energy needs are well managed.  With Sollatek’s solution, Satao Elerai will be able to run most of its day-to-day operations sustainably, reduce their carbon footprint, and encourage other hotels, camps, and lodges to adopt renewable energy technology.

Sollatek is proud to support an initiative like Satao Elerai & its Conservancy, as they run effective social outreach programs to vulnerable groups like the Maasai, manage critical wildlife areas that link animal migration routes and provide protection from poaching to endangered species.

Mission & Vision

To be the East African leader in voltage protection, renewable energy and energy saving industries with a primary focus on offering high quality, affordable, and innovative products and services to all our customers. 

Building on our over 30 years of experience working in East Africa as a wholesale and distribution company for power control & solar energy, we diversified into specialised solar projects, portable solar lanterns and home systems and innovative industrial power optimisation systems.

Management Team 

Mr. Chris R. Soper – Chairman       
Chris is a Chartered Shipbroker and a successful entrepreneur with over 40 years experience of running businesses in Kenya. Chris started in shipping but a chance meeting with Manhal Allos, Managing Director of Sollatek UK Limited, led to him starting up Sollatek Kenya in 1986 to sell voltage protection devices. In 1992, Chris became one of the first people in Kenya to explore business opportunities in renewable energy. Sollatek Kenya has since that time become a leading player in the solar industry.

Mohamed Saleem N. Abdulla—Managing Director 
Saleem is a certified accountant with over 25 years of accounting and management experience and over 20 years working with Sollatek.  Born and educated in Mombasa, he began his career at United Touring Company in Nairobi as the Group Credit Controlled. After 3 year with UTC, Saleem moved back to Mombasa to join Sollatek as the Accountant. Saleem has risen steadily through the ranks of the Company and was promoted to take over from Chris Soper as the Managing Director in 2007. Under his stewardship, Sollatek has doubled its turnover in the past 5 years.

Shemina S. Khodabaksh—Commercial Manager     
Shemina is a career administrator with over 20 years work experience in large commercial enterprise. Shemina started with The Aga Khan Hospital where she worked for over 15 years in various positions. She joined Sollatek in 2006. Shemina has been responsible for setting up and effective office management infrastructure, which has been invaluable for Sollatek, as the Company has grown rapidly in the recent years. She also spearheaded the Corporate Social Responsibility program for the past 5 years, and has been credited with many successful charitable activities organized by Sollatek.

Natalie Balck – Head of Projects and Partnerships 
Natalie was educated in the States and England holding a BA in psychology and MA in International Development. She has worked in Washington DC, England and Kenya in marketing, campaigns and with NGOs. For the last 7 years, she has been working with Sollatek Electronics Kenya Ltd, developing their region wide marketing strategy, fundraising and solar project implementation. She successfully managed the USADF Power Africa Solar Run Freezers for Fisherman project as well as EEP Sollatek Direct: Solar Entrepreneurs in Kenya.  

Samwel O. Odhiambo – Sales and Distribution Manager 
Sam was born and educated in Nairobi. After graduating with a Bachelor of Commerce degree from University of Nairobi in 1999, Sam joined Kenya Credit Traders Limited, a credit/HP firm as a Sales Executive. His strong work ethic and exceptional selling skills saw him promoted to be the Manager of the Company’s shop in Eldoret. Sam left KCTL to join Delmer, an electronic weighing and Telecommunications Company in 2001. He worked for Delmer for 6 years and had a short stint at Kenital Solar before joining Sollatek in April 2008. A brilliant salesman and an excellent administrator, Sam has not only played a key role in firmly establishing Sollatek in Kenya but also in expanding the business regionally into Uganda, Rwanda and Burundi.

Website

http://sollatek.co.ke/

Track Record of Awards 

2016 

Finalist in the Africa Innovation Awards in South Africa 

2015 

SEKL was named one of Kenya’s Top 100 Mid-Size companies in East Africa by KPMG Kenya. 

Awarded a grant from Energy and Environment Partnership (EEP) for setting up an solar entrepreneur network across Kenya 

Mazingira Award in Category of Green Energy Solution 

2014 

Winner of the USADF Power Africa Off-Grid Challenge of 100,000 USD for Sollatek Solar Centers. 

Winner of Energy, Solar and Lighting, Kenya Homes Expo 

2013 

SEKL was named one of 

Kenya’s Top 100 Mid-Size companies in East Africa by KPMG Kenya.

Previous Project 

USADF Power Africa Off-Grid Challenge

Energy and Environment Partnership (EEP) 

World Food Program Office in Isiolo, Kenya