SunFunder closes $2m multi-currency debt facility in Mozambique with MFX Solutions for off-grid energy provider SolarWorks!

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SunFunder
, a solar finance company providing debt capital to solar enterprises in emerging markets, closed a $2m debt facility with SolarWorks!, a leading Pay-As-You-Go (PAYG) solar home system and energy services provider in Southern Africa.

They expect the financing to directly impact the lives of 65,000 people with improved energy access and in the process displace at least 26 tonnes of CO2 emissions.

SolarWorks! Receives Investment from EDP to Boost International Expansion

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Last week EDP invested €2 million in SolarWorks! B.V., a leading pay-as-you-go (PAYG) company based in Mozambique. The investment is the result of a round of financing led by EDP Renováveis (an EDP Group subsidiary) in partnership with venture building firm Persistent Energy Capital LLC.

The investment will boost the international expansion of SolarWorks! in Southern Africa, where the company has been operating a PAYG businesss since 2016. As a PAYG business, SolarWorks! sells solar home systems and related products to off-grid households and small businesses in rural and peri-urban areas. With over 170 employees, SolarWorks! is currently preparing to expand from Mozambique to Malawi.

The launch of Solar Works! in Mozambique

Thursday the 24th of November was a fantastic day! The Dutch Ambassador Pascalle Grotenhuis opened our new flagship store in Matola. We will work together with the Director of Energy for Maputo Province to provide solar energy solutions to both urban and rural Mozambique. We will do this via PAYGO so people only have to pay for the energy the need. People can read, watch TV and charge their phones with the use of our PowerBox – all with affordable, reliable and sustainable energy!

Visit the Solar Works! Mozambique website...

Launch of the Orange Corners

The Kingdom of the Netherlands launched, together with her partners, Orange Corners. This is a place where South African and Dutch entrepreneurs can connect, work together and expand their business. Orange Corners is a platform for local entrepreneurs, startups, who can learn and grow their business. Solar Works! was invited as an inspiring example of how a startup can grow into an international company!

In 2007 Solar Works started at the Incubator of the Technical University of Delft. Still all our research and development takes place there. Now, 9 years later, Solar Works has offices in three countries and is doing business in even more countries!

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