funding gap emerging markets
Kenya

Sollatek Electronics Kenya 51

  • Sollatek
  • Direct investment
  • + 378 other investors
  • With a loan of EUR 165,000 Sollatek can import and install 85 solar water heaters (300L) at businesses in Kenya.

    €165,000
    Amount
    5.50%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€165,000
    Interest5.50%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 hour on 21 January 2022.
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      Summary

      Basic info:

      Issuer: Sollatek Electronics Kenya Ltd. 
      Currency:  EUR 
      Amount: 165,000
      Maturity: 24 months, semi-annually and linearly amortizing 
      Interest rate: 5.5% p.a. 

      Direct loan

      This is a direct loan to a company and therefore it is recommendable that you are careful with the amount you will invest. 

       

      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

      With this investment Sollatek can purchase 85 Solar Water Heaters (300L units), including spare-parts.

      Impact

      Direct benefits of the loan:  

      • 85 business with access to clean, affordable and reliable energy 
      • Estimated 1000 individuals who will benefit

      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.

      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. 
      • 2015 - Awarded a grant from Energy and Environment Partnership (EEP) for setting up an solar entrepreneur network across Kenya 
      • 2015 - 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. 
      • 2014 - 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 

      Company nameSollatek Electronics Kenya 51
      CEOSaleem Abdulla
      Founded1985-01-01
      LocationMombasa
      SectorSustainable energy projects
      Turnover€3,500,000
      Employees60

      Impact

      Access to electricity remains elusive for nearly 30 million Kenyans living in rural areas. It’s not uncommon for people to walk five kilometers at times to do something as simple as charging a cell phone. Sollatek supplies a whole range of solar energy solutions to ensure reliable energy access for businesses and homes. As solar power is cheaper and more reliable than grid power, Sollatek’s activities are life-changing for rural populations. Since 2009, their portable solar lanterns and solar home systems have brought access to clean, renewable energy to more than 3.5 million people in East Africa.

      Homes with access to clean and affordable electricity no longer rely on harmful and health-threatening fuels like kerosene to light lanterns. It enables an increase in income, as the energy for both homes and businesses becomes free of charge with time. As reliable lights increase security at night and allow children to study longer to improve their results at school, it significantly enhances rural livelihoods.

       

      SDG’s impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No Poverty

      SDG 7. Affordable and clean energy

      SDG 13. Climate action

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog articles

      Eager to learn more about clean energy projects on our platform? Read here. 

      During the 2020 Covid-19 pandemic, the demand for solar home systems increased significantly in emerging markets. Read more here.

      • With this investment 10 jobs are created
      • With this investment 1000 people are reached
      • With this investment 85 solar home systems are installed

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      We have already contributed for Sollatek Electronics Kenya 51

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