We close the gap between capital in developed countries and finance need of off-grid solar companies in emerging markets via crowdfunding.
I confirm that I am fully aware of the eligibility criteria, and based on its description, I am eligible to apply to the CSV Prize 2017.
Established (the solution has passed the previous stages and demonstrated success)
Annual budget in 2017 (USD)
Number of beneficiaries impacted so far
Headquarters location: Country
Headquarters location: City
Location(s) of impact
KE: Harambe, Kitale, Sibanga, Sidonge, Kusa, Kolweny, Nyabondo
TZ: Morogoro, Sengerema,Gamba
Problem: What problem is this initiative trying to address?
1.2b people lack access to electricity & rely on dirty fuels like kerosene or diesel , causing harmful indoor air pollution. Already today solar energy is cheaper & more profitable than those dirty fuels. But high interest rates & upfront costs of clean energy solutions such as solar stop large deployment. Without access to affordable finance, people in poverty cannot overcome their financial disadvantage and solar cannot be a viable alternative.
Solution Summary: What is the proposed solution? What do you see as its most promising aspects for creating shared value?
Our platform was built to allow private individuals to engage with energy access campaigns & their beneficiaries & establish a linkage between them. Investors can see in real-time from the moment they consider an investment their impact e.g. 25 EUR would allow to take one individual out of energy poverty and save 100 kg CO2 in one of our campaigns in Tanzania.
The core of TRINE's is a “Triple Bottom Line” aiming to eliminate energy poverty and provide a cleaner & safer environment for PEOPLE, achieving our long-term sustainability goals for the PLANET while generating a PROFIT for investors. The profit is obtained by local people paying a lower price for solar electricity than what for fossil fuels, creating a margin for our solar partners. The solar partners pay between 10-15% interest p.a. on the loan, wich is then is split 50/50 between TRINE & the crowdinvestors.
Impact: What is the impact of the work to date? Specify both the social and the environmental impact of your work
TRINE has catalyzed over EUR 1,900,000 for 17 offgrid projects in 5 Sub-Saharan countries, empowering over 160,000 people to escape energy poverty and off-setting over 50,000t of CO2.
A typical solar home system project TRINE would finance as part of this initiative has extensive economic, educational, health, well-being, environmental & climate and equality impacts across 11 SDGs, which this section will summarise.
When families switch from kerosene to solar light they save an average of $70 a year - around 10% of their annual income. Access to clean, safe light helps students to do their homework for an extra hour a night. This can increase pupils performance, attendance and motivation. Additional income is commonly spent on food, education and investment in livelihoods, helping reduce poverty and improve long-term health.
Financial sustainability plan: How is this initiative financially supported? How will you ensure its financial sustainability long-term?
TRINE has secured funding until 2019. The equity round has given the company resources to expand the team and invest in marketing and other capabilities to ensure further steep growth curves. In addition, TRINE has a sustainable business model by mkaing money through:
- Splitting the interest rate 50/50
- An arranger fee of 5% of each campaign upon successfull funding
- Revenue from corporate partnerships
Unique value proposition: What makes your initiative innovative? How does your project differ from other organizations working in the same field?
We solve the finance problem of solar companies by bringing in a innovative new investor group.
Founding story: Share a story about the "Aha!" moment that sparked the beginning of this initiative.
Andreas and Sam where both persuing similar ideas in the solar energy space (one more technical and finance focused). They then met by coincidence during a speed pitching event where they heard each others ideas. After a short chat it was clear that they had to work together to combine their expertise and have a huge impact in the sector.
Where did you hear about the Nestlé Creating Shared Value Prize?