Committed to the pursuit of universal energy access in Africa, SustainSolar has joined the competitive European Programme GET.invest, an energy finance “accelerator” now supporting development of our innovative asset leasing and construction finance tools for mini-grid developers. Inspired by similar asset-based financing models used in mature industries such as construction and mining, our new finance tools have been designed to address some of the most important hurdles faced by mini-grid developers.
Under these finance models, qualified mini-grid companies can now contract SustainSolar generation units over extended payment terms, with reduced deposit as low as zero, enabling faster site construction and revenue growth. Adopting our approach will help mini-grid companies improve bankability by strengthening project returns, scalability, and energy services for rural communities across sub-Saharan Africa. A pilot phase to test and validate these models with a number of enthusiastic mini-grid developers is currently building momentum. We welcome additional interested partners.
Our goal is to be a “force multiplier” through these finance solutions, enabling faster scalability of developers’ site portfolios at lower “all-in” cost. Our short-term tool is the construction finance model, or “grant bridge,” providing SustainSolar generation assets at minimum upfront cost to support recipients of Results Based Finance grants and other guaranteed post-construction awards. Under this model, mini-grid companies can more easily procure and commission quality power systems required for performance-based funding.
Our long-term tool is the asset leasing model, providing extended payment terms on SustainSolar generation assets over 10-year contracts. For most developers, this model lowers upfront CAPEX cost by 35% thus reducing debt and equity needs. Offering scalable system design and finance contracts, we enable mini-grid “right-sizing” with modular expandability – start small, then grow alongside customer demand.
As always, SustainSolar assets come with generous workmanship and product warranties, commissioning support, and turnkey design ensuring reliable service for remote off-grid applications.
