14 August 2017

Africa: Ignite Launches the Most Affordable Price Plan in Africa for Solar Home Systems

press release

London — African customers will have access to safe energy for an unprecedented monthly price, making Ignite the most affordable in the continent and multiplying the addressable market for Solar Home Systems.

Ignite, headquartered in Rwanda, has been able to change the energy paradigm in a Continent afflicted by energy poverty with over 700 million people without access to power. By virtue of Ignite's large-scale project model and its recently secured local currency debt financing, Ignite is offering a price plan which multiplies the addressable market for Solar Home products.

Yariv Cohen, Ignite's Chief Executive, says, "We completed phase 2 of 'Ignite Rwanda' project. With a network of 1,600 installers, operational efficiencies and economies of scale, we can make home solar more affordable than ever before. The launch marks the commencement of phase 3, on track to achieve our goal of 100% Clean Access."

In recent years, the price of solar has been dropping. Solar home systems in Africa, however, have not followed suit, mainly because international companies found it difficult to reach scale and secure local financing.

Angela Homsi, CIO: "We are excited that local commercial capital is mobilising towards the Solar home sector. This indicates we are moving from niche financing to mainstream capital. We expect this to continue, lower the cost of capital further and enable us to provide even more value to our clients."

In less than a year Ignite became the largest rural utility in Rwanda. For only $4 a month, with no down payment, Ignite provides the most affordable plan in Africa according to a Sendea report. This is the first time in the Continent's history that a rural utility provides a nationwide solution to energy poverty at a price that is affordable for 80% of the population. On the opposite side of the scale, Ignite also launched an affordable TV system for customers wishing to upgrade.

About Ignite

Ignite (https://www.ignite.solar) is the largest rural utility in Rwanda and the fastest growing in Africa. The Company distributes and finances solar systems to clients across the continent, connecting hundreds of thousands of beneficiaries to safe, affordable power. Ignite's systems come with Lighting Global Certification and from manufactures that share Ignite's commitment to quality and to client satisfaction. The Company services 60,000 clients, and is on track to complete the connection of 250,000 homes ahead of schedule.

Africa

How to Get to Reciprocal U.S.-Africa Trade Pact

The global trade environment is rapidly changing and already affecting the U.S.-Africa trade relationship. Indeed, the… Read more »

Copyright © 2017 PR Newswire. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.