Solar-powered irrigation pumps
KIVA loan: USD 50,000
crowd-funded through 1,375 lenders
Renewable Energy for sustainable agriculture
In Myanmar, the limited access to energy is leading 370,000 farming households to use diesel water pumps for irrigation. Dependency on fuel availability and high cost of diesel are leaving the farmers vulnerable, preventing them from irrigating 50% of their land. That reduces substantially their crop yields and income, increasing the risk of food insecurity in a country highly dependent on their own food production.
Agrosolar distributes sustainable and affordable solar powered irrigation pumps helping farmers to replace their diesel pump, save up to USD $45 per month (30% of their operational costs), double their yields and increase their income by irrigating more land. The seasonal lease-to-own financing, provided in partnership with an MFI, is based on the farmer’s resources to facilitate the acquisition of the equipment and support financial inclusion.
Nexus, as a Kiva field partner for Agrosolar, raised the requested $50k through the crowdfunding platform to finance the growing demand for their solar-powered irrigation systems. The company targets 100 systems to be installed in the next 5 months and over 2,600+ farming households to be reached within three years, reducing over 5,000 tCO2e and increasing overall smallholder farmers’ income by USD 1.4 million by 2023.