25% Match Funded
24 months to mature 5% interest

Sollatek Kenya Schools & Clinics: 5% Bond

£70,000
Raised

24
Investors

0
Days to run

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invested £2,000 invested

For every £2,000 invested into this campaign Sollatek will be able to source a solar system to be installed on a school or clinic in Kenya

households 8,450 school children

Your investment will help Sollatek to provide clean energy to 25 schools and 5 clinics

Sollatek is 100% Kenyan owned and managed, and has been operational in East Africa for over 30 years. During this time the market for solar products has changed significantly and with their experience and local knowledge Sollatek is well positioned to help the estimated 29 million individuals in Kenya who are currently 'off-grid' gain access to clean, reliable energy. Over the last 7 years Sollatek has sold over 650,000 solar lanterns and solar home systems (SHS), and aims to sell a further 180,000 by 2018.

This project benefits from match funding thanks to a grant from Good Energies Foundation.  Lendahand Ethex Ltd has provided an up-front match of £17,500, meaning that for every £3 invested into this project by the crowd an additional £1 will be invested through match funding.

About Sollatek

  • Sold more than 650,000 lanterns and home solar systems over the last 7 years
  • Providing approximately 3.8 million people with access to solar energy
  • Sole agent for Sollatek UK products and owner of the Sollatek franchise in East Africa
  • Products are sold through a network of 250 outlets in Kenya
  • Directly employs 44 staff across Kenya
  • Provides after-sales support from 8 service centres across East Africa
  • Operational since 1985 with head office in Mombasa, Kenya
  • Turnover of approximately £3 million in 2016
  • Featured in the Top 100 SME for Kenya 2017 list
  • Key product information

    Investment target: £70,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 24 months

    Expected interest rate: 5% per annum

    Interest payment frequency: 6 monthly

    Notional repayment: 6 monthly

    Financial instrument: Unsecured interest bearing bond

    Security: Unsecured

    Key risks

    This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.

    You must read the investment memorandum (provided below) where a full statement of risks is presented.

    Documents

    What the project investment will enable

    Over a two-year period, Sollatek will use funds raised for procuring, importing & installing solar systems for lighting, water pumping and/or water heating into schools and health clinics. On average a single community site will cost £2,000 allowing Sollatek to provide solar power for lighting, heating water or pumping to approximately 35 sites. However, many of the sites will have different needs which will determine the size, type and cost of the system, therefore the company projects to be able to install a range between 25-35 sites. The company expects more similar projects to equip additional schools, clinics, orphanages and community facilities in the near future and regards the Energise Africa initiative as a valuable flexible funding partner.


    Most of these systems will be paid for through donations and fund raising done by local NGOs or the school itself in their respective communities or may be supported by International charities. Where a system is installed on a financing arrangement the repayments will be determined on a case-by-case basis in accordance to what each organisation can afford. All of the schools and clinics are located in rural, underserved communities that are off-gird or have weak grid connection.


    Funds from this campaign will be used to purchase and import high quality solar equipment such as 120-260W panels, maintenance free batteries, charge controllers, invertors, remote monitoring systems, solar water pumps and solar water heaters. In addition to equipment, funds will be used for site surveys, installations and training at each of the sites. All equipment is sourced through trusted international partners and is manufactured to international quality standards as well as being subjected to Kenyan Bureau of Standards (KEBS) import testing. Panels are subjected to 25-year warranty, batteries have 2-year warranty, charge controllers 5 years and invertors 2 years, pumps 2 years.

    Sollatek Electronics Kenya

    The money raised from this campaign will be used as working capital to allow Sollatek to deliver on a projects working with local NGOs and International Charities and will focus on delivering solar systems to schools and clinics in the “underserved” areas of Kenya, which includes counties of Turkana, Tana River, Kilifi, and Kwale. These areas are defined as "underserved" by the Kenyan Government based on their CRA (Commission Revenue Allocation) report.

    Social and environmental impact

    Solar systems & lanterns have been shown to have a significant impact on customers' lives and the environment. To date, Sollatek has sold more than 650,000 solar home systems & lanterns across East Africa, and has impacted the lives of around 3.8 million people.

    Social Impact

    Social Impact

    The installation of solar systems to off grid communities has significant impacts that can be divided into the following categories: lifestyle, flexibility, health and safety, and economic. In their 2014 report 'The impact of Solar Lighting on Educational Outcomes' War Child UK measured the impact of installing solar systems in schools in Northern Uganda. Some of their results are presented below along with the expected social benefits from monies raised from this campaign:

    8,450

    Primary school children who benefit from the use of renewable energy

    5

    clinics with access to a reliable energy supply for lighting and powering medical equipment

    70%

    percentage of students with an increased feeling of safety at night

    63%

    increase in school enrolment for boys

    29%

    increase in school enrolment for girls

    4

    additional at school study hours per day

     

    Frequently Asked Questions