AFRICA: Charm Impact obtains funds to finance access to green energy

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AFRICA: Charm Impact obtains funds to finance access to green energy©Sebastian Noethlichs/Shutterstock

The Charm Impact investment platform has just raised £273,520 (nearly $356,000) to finance projects led by small providers of clean energy access solutions. The platform is active in Africa and Asia.

The aim of the financial mobilisation that the Charm Impact Platform has just carried out is to improve access to energy in Africa through the financing of projects led by clean energy solution providers in the start-up phase. The platform has raised £273,520 (nearly $356,000) through fundraising via the Crowdcube website.

In the end, the platform had more shareholders than expected, reaching 273% of the initial target. The funds raised in the form of equity investments will boost Charm Impact’s activities over the next three years. It also wants to expand its team and be regulated by the Financial Conduct Authority, a financial sector regulator independent of the UK government.

This accreditation “will allow Charm Impact to launch more projects, increase its portfolio of supported entrepreneurs and extend its geographical reach,” says the platform, which will be launched in 2018. It is already receiving support from Innovate UK’s Energy Catalyst programme, Energy 4 Impact’s Crowd Power initiative and the Good Energies foundation.

Financing solar refrigeration systems

The platform has already invested in several renewable energy solutions including Havenhill Synergy. It installs mini-solar grids to provide electricity to households and small and medium-sized enterprises in rural areas. For example, Charm Impact, together with the United States Foundation for African Development (USADF), helped finance a solar mini-grid in Yebu, a rural community near Abuja, Nigeria. The installation consists of a small 45 kWp solar power plant and a 113-kWh battery storage system. All the equipment provides electricity to 155 households and five commercial users.

Charm Impact is currently involved in the production and installation of 140 solar powered refrigeration systems in fresh produce markets in Nigeria. The project is led by the Koolboks start-up, with support from the Good Energies Foundation.

Jean Marie Takouleu


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