Phnom Penh, June 15, 2021 – Nexus for Development, as a Kiva field partner raised USD 50,000 for Techno-Hill through the crowdfunding platform to complete 2 micro-grid projects in rural Myanmar. These 60kW systems will provide clean energy for 2,250 people while avoiding over 200 tons of CO2 per year. Coming amidst a political crisis, this relief funding is crucial for the company to keep delivering vital and cheaper energy.
USD 50,000 funding for Techno Hill to complete 2 micro-grid projects in Myanmar
Micro-grid for 24/7 clean energy
On the 800+ remote islands of Tanintharyi state in Southern Myanmar, over 80,000 households still lack access to electricity from the national grid, relying on polluting diesel generators. Since the military coup in February 2021, fuel prices have escalated (up by ~20%) and the need for renewable energy is even stronger.
Techno-Hill is a pioneering solar micro-grid developer in Myanmar, founded and lead by a woman entrepreneur, Ms. B. Since 2017, the company has implemented 13 micro-grid projects and provided reliable clean energy to over 6,600 households.
- SDG 1 – No poverty. The electricity provided is 3x cheaper than diesel-powered options, making Techno-Hill’s solution particularly vital during crisis.
- SDG 4 – Quality education / SDG 8 – Decent work. Cheaper electricity allows kids to study at night, fishermen to run freezers to better conserve fish, and households to cook without burning wood.
- SDG 11 – Sustainable cities/ communities / SDG 17 – Partnerships. In each village where it operates, Techno-Hill provides free-of-charge electricity for streetlights, schools, and hospitals that can then operate during nighttime.
I’m always overwhelmed with joy when we manage to raise money for entrepreneurs to pursue and deliver on their mission. Ms B connects villages and houses to renewable energy. She does it wisely, and with a proper sense of business. Our team carried out a rigorous due diligence on her business, and we are glad that, amid the political crisis, Techno-Hill gets this relief funding. Thank you to the 1227 Kiva lenders!
About Kiva
Kiva is the world’s most popular crowdfunding platform with a mission to alleviate poverty by connecting people through lending. Through crowd-funding, early-stage enterprises are able to tap a broader network of smaller, individual lenders that they otherwise would not have been able to access.
Nexus for Development is a Field Partner of Kiva, meaning that we are able to raise loans up to USD 50,000 for social enterprises that would have been ineligible for a listing due to restricted geography.
About Nexus for Development
Nexus for Development is an international not-for-profit organization founded on the principles of sustainable development. We drive access to finance in developing economies across Asia to increase sustainable energy and water resource development, advance low-carbon solutions, and scale local implementers.
For more information please contact: contact@nexusfordevelopment.org