Simusolar Inc.
- Country
- Tanzania
- Technology
- Solar PV
- Business model
- Productive Use
ElectriFI invested USD 1.5 m in quasi-equity, to strenghten the operations of Tanzanian solar-powered equipment company, Simusolar, in Tanzania and Uganda
Contract signature date: June 2021
Total ElectriFI financing: USD 1.5 m (EUR 1.26m equivalent)
Allocation: ElectriFi Global
Environmental and Social Category: C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
ElectriFI committed USD 1.5 million to enable Simusolar to strengthen its operations in Tanzania and Uganda, reaching out to a total of ~27,000 beneficiaries. The objective of this investment opportunity is to create long-term impact via productive use equipment that directly increases income of smallholder farmers and fishermen.
Simusolar is a company established in Tanzania focused on creating solar-powered equipment that has a direct impact on productivity. The company provides and finances accessible, affordable and energy-efficient solar-powered water pumps and fishing lights, meeting the needs of rural smallholders and fishermen.
- Number of beneficiaries
- 28 840
- Annual output (MWh/y)
- GHG avoidance (tCO2eq/y)
- 13 647
Impact
- Beneficiary
- Simusolar
- Financial instrument
- Quasi equity
- Amount
- USD 1.5m (EUR 1.26m)
- Country
- Tanzania
- Technology
- Solar PV
- Business model
- Productive use
- Year
- 2021
- Facility
- ElectriFI Global