Two ventures represented on the Inclusive Business Accelerator platform, TRINE and RVE.SOL, have signed a partnership to work together in Kenya to deploy the KUDURA solar energy and clean water microgrids. Together they will provide access to clean solar energy and safe potable water making to a community in Sidonge, West Kenya.
Energy poverty affects over 1.3 billion people, preventing many people in emerging countries from improving their quality of life through education and business opportunities. Many use expensive and unsustainable energy sources such as hazardous kerosene lamps or diesel generators. Solar energy is a cheaper, healthier and more sustainable energy source. It is readily available, however the upfront costs of community-wide installation are today a barrier due to lack of finance.
Sam Manaberi, CEO and founder of TRINE: “We are really excited to be working with RVE.SOL, they are a fantastic, passionate team with a strong track record of implementing successful solar projects. We are now getting ready to launch our first crowd investing campaign to support the community of Sidonge, West Kenya.”
Once the solar energy system is in place, the community pays for the electricity they use, which is cheaper than traditional fossil energy sources. TRINE will raise the up-front investment for the KUDURA microgrid installation, which will provide reliable, long-term electricity access to 50 families and 5 small businesses, including a solar kiosk with solar lights as well as safe, clean water for the entire community.
Return on investment
The crowdinvestors will at the end of the project receive their initial investment plus a fair return on investment. They will also get regular updates about the impact of the project on the community to see their savings truly changing people’s lives.
Vivian Vendeirinho Founder & Managing Director of RVE.SOL: “Financing is the biggest barrier to overcome energy poverty and we believe TRINE has a fantastic solution for this. Putting an innovative twist on crowdfunding, crowd investing gives people a compelling investment option with the added benefit of positive social and environmental impact.”
Impact investing start-up
TRINE is an impact investing start-up that aims to eliminate energy poverty. Using a unique crowd investing platform, TRINE invests in solar energy projects which provide remote communities with electricity. Our service makes it easy for people to support solar energy projects in emerging countries, while also earning a fair return on investment.For us it all about delivering triple value to our stakeholders. We care about people, planet and profit. TRINE recognizes that business as usual is no option and we are confident that our sustainable way of doing business is part of a future economy. Get updated onwww.jointrine.com and stay tuned for November 10th.
Triple bottom line
RVE.SOL is a triple bottom line social entrepreneurship using renewable technology to eradicate poverty, create jobs and empower businesses in rural Africa. We believe that everyone should have access to affordable, reliable, sustainable energy and potable water to help improve their quality of life. Our unique, worldwide patent-pending solution KUDURA can be customized and scaled for rural villages, schools, clinics, factories, commercial businesses and private residences.