PoaPower
Location
Kenya
Sector
Energy
Type of Investment
Risk Capital
Project Stage
Length of Investment
2015+
Investment Overview
A $240,000 convertible loan for a pilot in Kenya of a new business model that provides off-grid communities with affordable clean energy using an innovative pay-as-you-go model.
The Development Challenge
600 million people in Africa lack access to electricity, a development gap which negatively impacts health, education, and income outcomes.
The Innovation
Poa Power is a social-enterprise which provides clean and affordable electricity to off-grid, low income consumers in Kenya through a unique ‘pay-as-you-go’ (PAYG) business model. This business model allows Poa Power to sell energy on a metered pay-as-you-go basis with no upfront equipment costs. This ensures that even the lowest income households can access clean energy as and when they choose.
Our Investment
GIF’s $240,000 convertible debt investment supported PoaPower to test this business model innovation by distributing and installing their technology in 100-200 households in the Mount Kenya area.
Investment Objective
To validate the technical and functional capability of the product, and to test distribution channels and demonstrate uptake by households.
Why we invested
Innovation in both technology and pricing.
Poa Power’s pilot tested a new business model as well as a unique power supply proposition for low-income households. The market test that Poa Power is subjected to will make it easy to assess whether people value this service and what prices they are willing and able to pay for solar power.
Experienced team.
The leadership behind Poa Power has entrepreneurial experience in the solar sector in East Africa.
PoaPower in numbers
People in Africa who lack access to electricity
Households receiving technology as part of PoaPower's current test