What will your investment provide?
With the money invested in this campaign Sollatek will be able to deliver 75 solar water heating systems and 55 kWp solar power systems .
How many homes or businesses will benefit?
This raise will help to deliver solar water heating systems for 75 homes and businesses and solar power systems for 16 businesses.
INVEST DIRECTLY IN SOLAR ENERGY IN EAST AFRICA
Solar water heaters use sunlight to heat water and solar power systems use sunlight to generate electricity. They provide cost-effective, low carbon energy to homes and businesses.
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: £200,000
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 £200,000 of investment in this raise which will enable them to design and install about 75 solar water heating systems and about 16 solar power systems with a total capacity of 55 kWp.
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.
Solar power systems generate low carbon, renewable electricity. Delivered systems will be designed to meet clients needs to include panels, inverters, and remote monitoring equipment and Sollatek batteries where needed. Based on current orders, Sollatek estimate that these funds will deliver 16 systems with a total capacity of 55 kWp, though the exact systems delivered will depend on what clients want.
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. Solar panels provide secure access and cost-effective access to electricity for businesses. Using solar energy for water heating and electricity reduces carbon emissions compared to using other fuels or grid electricity.
Research shows that business profitability in Kenya is impacted by power outages. Solar power systems can provide clean and reliable electricity. Solar water heaters support access to hot water which leads to general improvements in health and translates into savings in health care.
new solar water heaters will be delivered to homes and businesses
new solar power systems will be delivered to businesses
average daily generation in Kenya from 55 kWp
Solar power systems provide clean energy and avoid carbon emissions. 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
Average annual generation from 55 kWp installed solar in Kenya
Solar systems installed by Sollatek since 2010