SolarWorks! Trading B.V. Issue 17: 7% Bond
SolarWorks! offers households in Mozambique a range of Solar Home Systems (SHS) to meet their needs. Since their incorporation they have installed approximately 32,000 SHS.
The total number of systems SolarWorks! has deployed has impacted the lives of approximately 160,000 people.
SolarWorks! Trading B.V. is a wholly owned subsidiary of SolarWorks! B.V., who has been operational across South Africa and Mozambique for the last 8 years and has an expert knowledge of the needs of local families in these markets. They have sold close to 30,000 units in Mozambique and 2,000 in Malawi and are looking to expand across more regions of Mozambique and Malawi and deliver a further 42,000 systems in the next 12 months.
About SolarWorks! B.V.
Key product information
Issuer: SolarWorks! Trading B.V.
Country of Issue: Netherlands
Investment target: £29,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 7% per annum
Witholding tax rate: 0%
Interest payment frequency: 6 monthly
Capital repayment: Semi-annually (from 12 months onwards)*
Financial instrument: Unsecured interest bearing bond
* For the first 12 months after the Issue Date, a "Grace Period" applies during which no capital repayments occur. During this Grace Period, the Issuer will make Interest Payments on the Interest Payment Dates. For the avoidance of doubt, after the Grace Period, the capital repayments are semi-annual and in equal installments. Please refer to the amortization schedule found on Page 21 of the offer document
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.
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 that is due on 01/09/20. This mechanism allows SolarWorks! 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 SolarWorks!, and that the increased uncertainty of investing into this campaign is mitigated to an extent through an increased interest rate of 7% relative to earlier SolarWorks! campaigns, which were offered at 6%.
You can read Energise Africa's full approach to COVID-19 here.
SolarWorks! Trading B.V.
SolarWorks! is looking to raise £29,000 from this bond issue will be used to repay investors from an earlier campaign that is due on 01/09/20.
Not only will your investment into this SolarWorks! Trading B.V. offer allow them to manage their upcoming repayments, but you'll also be helping the company to continue and provide employment opportunities. The majority of SolarWorks! employees are local people, and employment provides an income for those families that, often for the first time, allows them to send their children to school and lift themselves out of poverty.
Social and environmental impact
SHS & lanterns have been shown to have a significant impact on customers' lives and the environment. SolarWorks! B.V. has sold close to 32,000 units in Mozambique and Malawi, and has impacted the lives of around 160,000 people.
Social Impact statistics based on GOGLA's most recent statistics for 21-49W systems from their 2019 'Global Off-Grid Solar Market Report'
increase in quality of light
increase in available light ouput compared to kerosene lamps
change in available hours of light, per household
Using industry-recognised SolarAid impact metrics, SolarWorks! has calculated the environmental impact of the total number of systems installed since their incorporation as follows:
Number of people who have benefited from clean energy access
respondents to a Power Africa survey reported reduced energy spend and kerosene use as the most appreciated benefit of SHS
Annual total CO2 emissions offset