- Solar PV
- Business model
In 2017, ElectriFI committed EUR 100,000 to support Rural Spark’s distribution strategy in rural India targeting distributing 450 energy kits.
Countries: India, Zambia, Kenya, Nigeria
Total ElectriFI funding: EUR 0.1m
Brief description of project:
Rural Spark is a Dutch company having successfully developed a disruptive sustainable energy solution distributed in unelectrified villages in North India. They recently came up with high qualitative energy kits or solar home systems, containing of an energy source (a 40Wp solar PV), the energy router, “share cubes” (battery cubes), and several applications like lamps, TV and fans. These energy kits are compatible with the grid and they can also be interconnected between them via the “share cubes” to share and exchange energy surpluses. Rural Spark products allows villagers to group and become ‘Local Energy Suppliers’ through a hire & purchase model.
ElectriFI has committed EUR 100,000 in development financing to test and validate the distribution model of Rural Spark energy kits through rural distribution partners who already have activities in unelectrified or barely electrified villages. Typically, these partners range from NGOs, SHS distribution companies, MFIs. Current growth by Rural Spark is achieved by leveraging existing distribution networks of partners with enormous reach. The development loan funding will go into supporting the testing and validation of the right distribution partners with a sample of at least 450 kits to be distributed.
Why ElectriFI wants to fund this project:
Rural Spark is changing the lives of thousands of rural families thanks to their off-grid solar powered solutions, providing people with a solar panel, energy storage and low power appliances. It enables local communities to prosper in a sustainable and scalable for-profit way, and participate in the global economy. They aim to sell 9.500 energy kits in 2019 and 35.000 kits in 2020.
At a glance:
- Financing instrument
- Development financing
- USD 100,000
- Rural Spark