PoaPower
Location
Kenya
Sector
Energy
Type of Investment
Risk Capital
Project Stage
Length of Investment
2015+
Investment Overview
A $240,000 convertible loan for a pilot of a new business model that aimed to provide off-grid communities with affordable, clean energy using a pay-as-you-go model.
The Development Challenge
Six hundred million people in Africa lack access to electricity, a development gap which negatively impacts health, education, and income outcomes.
The Innovation
PoaPower was a social enterprise which aimed to provide clean and affordable electricity to off-grid, low-income consumers in Kenya through a ‘pay-as-you-go’ (PAYG) business model.
Our Investment
GIF’s $240,000 convertible debt investment supported PoaPower to test this business model innovation by distributing and installing their technology in households in the Mount Kenya area.
Investment Objective
To validate the technical and functional capability of the product, and to test distribution channels and demonstrate uptake by households.
Why we invested
PoaPower’s pilot tested a new business model and power supply proposition for low-income households. The innovation aimed to assess whether people value this service and what prices they were willing and able to pay for solar power.
PoaPower's leadership team had entrepreneurial experience in the solar sector in East Africa.
PoaPower in numbers
People in Africa who lack access to electricity