Nithio FI
- Country
- Kenya
- Technology
- Solar PV
- Business model
- SHS
Nithio FI offers data science services that enable the SHS operators to access cheaper capital and to learn how to allocate it more efficiently. EDFI ElectriFI’s investment is part of the initial funding round that will unlock up to USD 15m senior debt and help the company prove the viability of its concept.
Contract signature date: December 2020
Total ElectriFI Financing: USD 5m (4.10m EUR) (2.72m (ElectriFI Global) + 1.36m (CW Nigeria))
Environmental and Social Category: FI C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
EDFI ElectriFI committed USD 5 million (EUR 4.10 million) in a funding round that will unlock up to USD 15m senior debt and help Nithio FI prove its concept. The company aims to provide innovative receivables backed financing solutions to companies providing energy access services to rural populations and support those companies in smartly deploying the capital to increase their impact in the most financially sustainable way. EDFI ElectriFI’s investment will catalyse senior lenders and will contribute to increasing the support of existing, well established SHS distributors as well as smaller local distributors in diverse markets.
Nithio FI distinguish itself from other financing facilities through their usage of data-driven predictive analyses. These analyses enable them to, on the one hand, accurately predict the payments and, therefore, the value of the existing portfolio of receivables. On the other hand, they offer a prospecting tool that can pinpoint the optimal regions for the operators to reinvest the proceeds they receive.
- Number of beneficiaries
- 262 500
- Annual output (MWh/y)
- 1260
- GHG avoidance (tCO2eq/y)
- 101 116
Impact
- Beneficiary
- Nithio FI
- Financing instrument
- Quasi equity
- Amount
- EUR 4.10m: 2.72m (ElectriFI Global) + 1.36m (CW Nigeria)
- Countries
- Kenya, Uganda, Nigeria
- Technologies
- Solar PV
- Business model
- Solar Home Systems
- Year
- 2020
- Facility
- Gloabal + Country Window Nigeria