Simusolar
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Project overview
Simusolar is a company established in Tanzania focused on creating solar-powered equipment that has a direct impact on productivity. The company provides and finances accessible, affordable and energy-efficient solar-powered water pumps and fishing lights, meeting the needs of rural smallholders and fishermen.
EDFI ElectriFI invested USD 1.5m to enable Simusolar to strengthen its operations in Tanzania and Uganda
Funding objective
EDFI ElectriFI invested USD 1.5m in Simusolar alongside other financiers, with the objective to create long-term impact via productive use equipment that directly increases income of smallholder farmers and fishermen, and reaching a total of ~27,000 beneficiaries.
Investment rationale
EDFI ElectriFI is supportive of Simusolar business model as it effectively enables smallholders to increase their irrigation capacity and harvesting and generate more output. Solar-powered equipment are substitutes of costly and polluting diesel generators or petrol-powered equipment.
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Key Indicators
Financial Instrument
Quasi equity
Amount
USD 1.5 m (EUR 1.26m equivalent)
Year
June 2021
Targeted impact
