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UGANDA Venture Philanthropy

SolarNow

SolarNow. Foto: Acumen


Partner

Acumen
Socio local

Sector

Beneficiados

100,000€
Coste


SolarNow is a social business that provides access to clean energy and financing solutions for solar home systems in Uganda.

OVF embraced Acumen's patient capital model in 2010. Since then and until 2018, we have invested 1 million euros in social businesses through our partner Acumen. SolarNow is one of these companies. 

The challenge

In Uganda, 85% of the population lacks access to electricity. The low rate of electrification in the country is due to the high infrastructure costs. Access to solar energy as an alternative faces some barriers such as the lack of financing solutions and the absence of local distribution networks for the products. 

The solution

Solar Now offers innovative solar home systems and financing solutions, allowing customers to pay in 18 monts. Additionally, it provides installation and maintenance services and their products have a 2-year guarantee.

Impact

Today, SolarNow has over 25,000 clients across 63 franchisees in Uganda and Kenya. By providing access to clean energy and the provision of end-user financing, over 90,000 lives have benefited cumulatively in East Africa.


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Sobre Open Value Foundation

Open Value Foundation es una fundación que cataliza soluciones innovadoras y sostenibles para mejorar la vida de las personas más vulnerables a través de proyectos y alianzas con un enfoque de Venture Philanthropy.

Open Value Foundation pertenece a Santa Comba Gestión SL, holding familiar aglutinador de proyectos que fomenta la libertad de la persona desde el conocimiento.

Contacto

Paseo de la Castellana, 53, 2ª planta 28046 Madrid (España)

+34 91 077 06 08

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