What will your investment provide?
With the money invested in this campaign Sollatek will be able to deliver 75 solar water heating systems .
How many homes or businesses will benefit?
Sollatek will design and install solar water heating systems for 60 homes and 15 businesses with funds from this raise.
Invest Directly in Solar Water Heating in Kenya
Solar water heaters use sunlight to heat water and are a cost-effective, low carbon way for homes and businesses to get hot water.
Sollatek is 100% Kenyan owned and managed, and has been operational in East Africa for 38 years. They sell clean, solar energy solutions from solar lanterns to grid-tie systems with battery storage.
Key product information
Issuer: Sollatek Electronics (Kenya) Ltd
Issuing Country: Kenya
Investment target: £130,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 6% per annum
Withholding tax rate: 15% (applicable to UK residents who do not invest within an IF ISA)
Interest payment frequency: Semi-annually
Capital repayment: Semi-annually
Financial instrument: Unsecured interest bearing bond
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 offer document (provided below) where a full statement of risks is presented.
What the project investment will enable
Sollatek aims to raise £130,000 of investment in this raise which will enable them to design and install about 75 solar water heating systems for 60 residential homes and 15 businesses.
Solar water heaters use sunlight to heat water, saving on the costs and carbon emissions associated with other fuels. Access to hot water leads to general improvements in health and translates into savings in health care.
Sollatek Electronics Kenya
Sollatek Electronics (Kenya) Limited (“Sollatek”) started operations in 1985, and is a leading importer and distributor of power control, energy efficiency, and solar solutions in East Africa.
Products are sold through a region-wide network of resellers, mainly in Kenya as well as Uganda, Tananzia Rwanda, and Burundi; resellers include major regional supermarket chains, electronics and electrical shops, hardware stores and general stores.
Social and environmental impact
Solar water heaters save water heating costs for homes and businesses and reduce carbon emissions by avoiding the use of other energy sources, mainly grid electricity, to heat water.
Access to hot water leads to general improvements in health and translates into savings in health care. Industry growth in Kenya is expected to create new jobs.
new solar water heaters will be delivered to homes
new solar water heaters will be delivered to businesses
Ksh 8.08 bn
avoided energy costs in Kenya from solar water heating in 2020
Space and water heating are a major part of buildings energy use globally and the IEA have identified the need for rapid uptake of solar thermal systems to reduce the use of fossil fuels.
estimated CO2 emissions avoided by Solar Water Heaters in Kenya in 2020
Space and water heating account for almost half of buildings energy use globally
New solar thermal systems are needed by 2030