Emerging markets are home to over 2.5 billion people living without access to reliable energy. SunFunder is a solar finance business based in San Francisco and Tanzania working to connect investment capital to solar energy companies operating in these off-grid areas. SunFunder aggregates capital in its Solar Empowerment Fund, which provides short-term inventory and project finance loans to enable solar energy companies to develop the solar energy sector and deploy systems.
In Tanzania, solar lanterns have helped replace kerosene lanterns, which present a health hazard to users as well as degrade the environment. In Rwanda, solar cell phone chargers have helped provide mobile phone access to previously disconnected individuals and a hospital can draw back-up power supply from solar panels. In Kenya, solar micro-grids help power entire off-grid villages.
SunFunder has disbursed over $13.8 million across 80 loans to 27 borrowers, including BBoxx, Off-Grid Electric, and Angaza, among others. This has helped more than 2 million people replace kerosene and diesel as a generator of electricity.
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