- Solar PV
- Business model
EDFI ElectriFI invested a USD 2 million convertible note in RDG Collective, an early-stage Solar Home Systems and Productive Use Appliances provider in rural Zambia.
Contract signature date: September 2022
Total ElectriFI financing: USD 2M
Environmental and Social Category: C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
RDG Collective was established with the ambition to ‘Empower the Future’, by developing and distributing innovative Solar Home Systems (SHS) throughout Zambia where an estimated 2.4 million households still lack access to electricity. While the cost of solar energy solutions remaining prohibitively high for almost all off-grid households, RDG Collective came up with innovative products distributed on a PAY-AS-YOU-GO (PAYG) basis. By eliminating this financial barrier, an increasing number of households across Zambia can now access solar home systems, refrigerators, solar water pumps, and smartphones to improve and empower their lives.
With EDFI ElectriFI financing, RDG Collective expects to distribute more than 50 000 new SHS over the next 6 years, resulting in 174k tCO2 emissions avoidance.
Learn more on: https://rdg-home.com/