Solarworks! Trading B.V. Issue 18: 7% Bond

Refinancing
24 months to mature 7% interest

SolarWorks! Trading B.V. Issue 18: 7% Bond

£15,000
Raised

15
Investors

0
Days to run

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invested 32,000 systems

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.

households 160,000 people

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.

  • Sold around 32,000 units in Mozambique and Malawi as of April 2020
  • Providing approximately 160,000 people with access to solar energy
  • Headquarters in The Netherlands, with regional offices in South Africa, Mozambique and Malawi
  • Products sold through regional sales offices and are also due to be sold via Vodacom stores
  • SolarWorks! B.V. directly employs 320 staff across all locations
  • Turnover of approximately $4.3 million USD in 2019
  • Products developed at an incubator of the Delft University of Technology
  • Selling around 2,000 SHS per month
  • Key product information

    Issuer: SolarWorks! Trading B.V.

    Country of Issue: Netherlands

    Investment target: £15,000

    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

    Security: Unsecured


    * 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

    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

    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 01/10/20. 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 £15,000 from this bond issue will be used to repay investors from an earlier campaign that is due on 01/10/20.


    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

    Social Impact

    Social Impact statistics based on GOGLA's most recent statistics for 21-49W systems from their 2019 'Global Off-Grid Solar Market Report'

    787%

    increase in quality of light

    76%

    increase in available light ouput compared to kerosene lamps

    1,446

    change in available hours of light, per household

    Environmental Impact

    Environmental impact

    Using industry-recognised SolarAid impact metrics, SolarWorks! has calculated the environmental impact of the total number of systems installed since their incorporation as follows:

    160,000

    Number of people who have benefited from clean energy access

    60%

    respondents to a Power Africa survey reported reduced energy spend and kerosene use as the most appreciated benefit of SHS

    35,200 tonnes

    Annual total CO2 emissions offset

    • pdf

      Offer Documents

      SolarWorks! B.V. Issue 18 - Offer Document  (Log In to download)

     

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