Solar technology for microgrids
KIVA loan: USD 50,000
crowd-funded through 1,359 lenders
About half of the population of Cambodia lives without access to the electricity grid. These low-income people are the most vulnerable to adverse economic changes and stand to gain the most from a reliable energy source.
Traditional solar home systems are sometimes available, but each system is limited to a single household. Energy generated from these traditional solar systems cannot be shared among villages meaning about 30% of electricity generated is not used, the systems are not scalable, and they are usually prohibitively expensive for low-income people.
Okra is a technology developer who has created an innovative system to set up and manage solar electricity sharing in the most remote parts of the world. With Okra, the extra power that’s not being used by one home can be shared with the community meaning more people will have access to energy for all their needs: lights, fans, pumping water and even rice cooking. Okra’s system reduces energy waste and makes energy access more affordable and accessible to off-grid communities.
Nexus as a field partner for Okra raised the requested $50k through the Kiva platform to cover the upfront manufacturing costs to electrify 250 households in Cambodia. This is Okra’s first loan and it will help the company establish a credit history which will improve its ability to access future financing.