Easy Solar distributes high-quality energy solutions on affordable payment plans to communities underserved by the grid in Sierra Leone.
On its website, Start Up Energy Transition indicates almost 450 start-ups from 80 countries competed in one of five categories to showcase to climate change and the energy transition. The 100 start-ups selected come from 31 countries, 18 different sectors and cover all regions of the world.
“From the almost 450 applications received this year, we were tasked with the daunting yet exciting job of evaluating and comparing the creative ideas and approaches innovators around the world are developing to address our global energy needs. The SET100 list represents some of those most innovative energy solutions and business models that will indeed help us achieve our climate goals. We look forward to seeing them succeed in the future and we are sure they will inspire you-just as they did us.” Andreas Kuhlmann, Chief Executive, German Energy Agency (dena).
Barbara Wiafe, Program Manager, Mastercard Foundation Fund for Rural Prosperity, congratulated the Easy Solar team on their achievement. “On behalf of the MasterCard Foundation Fund for Rural Prosperity, congratulations on your nomination as one of the world’s Top 100 renewable energy Startups of 2019! We wish you much more success as you support our agenda of delivering more financial inclusivity to rural communities in Sub Saharan Africa.”
The Mastercard Foundation Fund for Rural Prosperity is supporting Easy Solar’s innovative solution to finance previously unbankable customers. The company uses the sale of an entry-level solar lamp on a rent-to-own payment plan to build customer relations and density. Lamp repayment history allows for credit scoring and deep customer knowledge before selling higher value solar and other life-changing products on terms affordable to Bottom of the Pyramid customers. Easy Solar has established a distribution network of over 10 flagship stores and 110 retail points in Sierra Leone.
For more information click here.