PoaPower, a pay-as-you-go recently received a £150,000 convertible loan ($217,162) for a pilot in Kenya in a move to provide off-grid communities with affordable clean energy using innovative mobile payments.
With the ability to power Mobile phones, fans, TVs, laptops, lamps, 12v car appliances, PoaPower is targeting to meet the needs of over 600 million people in Africa who lack access to electricity. The firm has began a pilot phase aimed at reaching out to 100-200 households in its first phase.
Poa Power aims to sell energy on a metered pay-as-you-go basis with no upfront equipment costs to ensure that even the lowest income households can access clean energy as and when they choose.
PoaPower’s £150,000 convertible debt investment from GIF will support the firm to test its business model by innovation, distributing and installing their technology in 100-200 households in the Mount Kenya area. GIF says it invested into PoaPower due to its innovation in both technology and pricing. If it launches, PoaPower will face competition from Mkopa Solar which has extensively covered East Africa.
“Poa Power’s pilot will test a new business model as well as unique power supply proposition for low-income households. The market test that Poa Power is subjected to will make it easy to assess whether people value this service and what prices they are willing and able to pay for solar power,” said GIF.