Redavia Gmbh Issue 2: 6.5% Bond

Refinancing
24 months to mature 6.5% interest

REDAVIA GmbH Issue 2: 6.5% Bond

£167,000
Raised

173
Investors

0
Days to run

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invested 3.26 MW

To date, REDAVIA has contracted and/or commissioned over 3.26 MW in projects.

households 39 systems

REDAVIA have commissioned 39 commercial and industrial (C&I) customers with clean and affordable energy.

REDAVIA is an industry leader in solar power providing both business and communities access to clean and affordable energy through the distribution of their solar farms. REDAVIA solar provides more than just electricity but also spurs business expansion, improves education, and brings employment to developing communities. With a proven track record in cost-effective, reliable and clean energy, REDAVIA is committed to using solar energy as a key driver for sustainable development.

Their vision is to be the global market leader of cost-effective, reliable lease-to-own solar power solutions for businesses and communities, reducing emissions by over 100k tonnes/year and providing clean electricity access to around 650k people by the end of 2021.

About REDAVIA GmbH

  • Incorporated in October 2011
  • Head offices in Munich, Germany and local offices in Accra, Ghana and Nairobi, Kenya
  • Has 20 direct employees
  • Generated turnover of approximately €844,000 in 2018 and estimated turnover of €1.1m in 2019
  • At present, REDAVIA operates 39 solar units in Ghana and has 7 further units contracted for distribution across Ghana and Kenya
  • In Ghana, the total units installed has produced 3,960 MWhs of clean energy with each new solar Unit adding p.a. 120 MWhs
  • Has provided more than 25,200 workers and residents with access to clean, sustainable energy
  • Winner of the Frost & Sullivan's Best Practices Award
  • Key product information

    Issuer: REDAVIA GmbH

    Issuing Country: Germany

    Investment target: £167,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 24 months

    Expected interest rate: 6.5% per annum

    Withholding tax rate: 0%

    Interest payment frequency: Semi-annually

    Capital repayment frequency: Semi-annually (from 12 months onwards)*

    Financial instrument: Secured interest bearing bond

    Security: Recourse over the assets funded via the Energise Africa platform until transferred to the Issuer’s Ghanaian Subsidiary. Recourse over the collection account that must be maintained at any time at a minimum of the total of (principal repayments + interest payments) that will become due in the next 3 months. For more information regarding security, see page 31 of the Offer Document


    * For the first 12 months after the Issue Date, a "Grace Period" applies during which no capital repayments occur. The first capital repayment will take place 12 months after the Issue Date, and on a semi-annual basis thereafter. Please refer to the amortization schedule found on Page 21 of the offer document.

    Key risks

    This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.

    You must read the investment memorandum (provided below) where a full statement of risks is presented.

    Documents

    REDAVIA in the media

    What the project investment will enable

    Further to our recent communication concerning the effect of COVID-19 on our Solar Partners, monies raised under this offer will be used to repay investors from an earlier campaign, freeing up cash to be utilised for other solar projects. This mechanism allows REDAVIA to refinance their existing debt raised on Energise Africa on more favourable terms i.e. a 12 month grace period on capital repayments. Investors should be aware that this offer is for the specific purpose of easing short term cashflow of REDAVIA, and that the increased uncertainty of investing into this campaign is mitigated to an extent through an increased interest rate of 6.5% relative to earlier REDAVIA campaigns, which were offered at 5.5%.


    You can read Energise Africa's full approach to COVID-19 here.

    REDAVIA GmbH

    REDAVIA GmbH is looking to raise £167,000 from this bond issue will be used to repay investors from an earlier campaign, freeing up cash to be utilised for other solar projects.


    To date, REDAVIA has installed 39 solar units and operates them in line with Ghanaian regulations under lease-to-own contracts, with an average lease term of 12 years providing both business and communities access to clean and affordable energy. The Regional Maritime University, SGS and Red Sea Housing Services are all organisations who benefit from REDAVIA's solar unit systems. Click on the hyperlinks above to read case studies on each of these companies.

    Social and environmental impact

    The installation of solar plants for commercial and industrial (C&I) companies has shown to have both a significant impact on the companies and the environment. To date, REDAVIA has contracted and/or commissioned over 3.26MW in projects and has an impressive 39 solar units installed.

    Social Impact

    Social Impact

    The positive impact of addressing this market gap is immense. The social impact that REDAVIA has made in Ghana to-date is:

    25,200

    workers and residents with access to clean energy

    Educates

    students for engineering jobs in the renewable sector through RMU’s ‘Renewable Energy Engineering’ curriculum

    ~$100

    of monthly savings on energy delivered per 84kWp solar unit

    Environmental Impact

    Environmental impact

    The units REDAVIA deploy are 84kWp in size. Since their incorporation the environmental impact that REDAVIA has had from installing their systems is:

    3,960 MWhs

    of clean energy produced

    39

    number of customers switched to clean renewable energy

    2,747tonnes

    of CO2 abated

    • pdf

      Offer Documents

      REDAVIA GmbH - Issue 2 - Offer Document  (Log In to download)

     

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