Wednesday, April 21, 2021
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • East Africa
    • West Africa
    • South Africa
    • MENA
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • East Africa
    • West Africa
    • South Africa
    • MENA
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Climate Change

Sun Exchange, a South African startup, has raised $1.4 million from a crowd sale of a Zimbabwe solar project

Tech Gist Africa by Tech Gist Africa
04/09/2021
in Climate Change, Funding, Made In Africa, News, Solar Energy, Startups, Sustainability
0 0
0
solar power tech news africa

solar power tech news africa

0
SHARES
Share on FacebookShare on Twitter

Sun Exchange, an energy start-up in South Africa In a crowd selling of solar cells for a 1.9 megawatt (MW) solar and battery storage facility at Zimbabwe’s Nhimbe Fresh farm, Sun Exchange raised $1.4 million.

Individual solar cells in the project were eligible for purchase by investors. In return, they will receive a cryptocurrency rental income from the electricity produced.

The crowd sale drew more than 1,700 customers, according to Sun Exchange.

Nhimbe Fresh is a major fruit and tobacco producer in Zimbabwe. The solar project is part of the company’s strategy to use solar energy to fuel its entire operation.

Zimbabwe’s recurrent power outages, which can last up to 18 hours in some places, have prompted companies to search for cheaper and more stable energy sources.

According to Nhimbe, the scheme could reduce the company’s total energy costs by up to 60%.

The solar farm’s investors will receive a monthly income stream for the next 20 years, with a projected internal rate of return (IRR) of 16.71 percent in South African rand, according to Sun Exchange.

In a quote, Sun Exchange said, “This is the highest earning potential of any solar project run through the Sun Exchange network to date.” “Solar cells will be leased to Nhimbe Fresh at a USD-pegged fixed price to mitigate the chance of local currency fluctuations.”

Read More on Tech Gist Africa:

Havenhill Synergy, a Nigerian cleantech startup, has raised $4.6 million in funding.

Nuru, a solar company based in the Democratic Republic of Congo, has raised $1.2 million in a funding round.

 

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

VodaBima Vodacom Tanzania
Digital Wallet

Vodacom Tanzania and Britam have teamed up to launch VodaBima, a digital insurance platform

by Tech Gist Africa
04/21/2021
0

Vodacom Tanzania has teamed up with Britam, an East African insurance company, to launch VodaBima. VodaBima is a microinsurance platform...

Read more
FlexClub Tech Gist Africa

Europcar, a global car rental company, has partnered with FlexClub, a South African car tech startup

04/21/2021
moneygram

FNB, a South African financial services provider, has launched a mobile money transfer service in Africa in partnership with MoneyGram

04/21/2021
acebook Live Audio Rooms

Facebook creates Live Audio Rooms that are similar to Clubhouse

04/21/2021
Crypto Venmo Paypal

PayPal’s Venmo mobile payment app now includes a feature that allows users to buy and sell cryptocurrencies

04/21/2021
Next Post
TakeStep Egypt health startup

TakeStep, an Egyptian mental e-health startup, has raised seed funding to expand into GCC region

Flat6Labs Abu Dhabi

Flat6Labs and DisruptAD launches ‘Flat6Labs Ignite' Seed program a $32.7 million program that will impact North African innovators

Artificial intelligence finance fintech

Artificial Intelligence is the future of Finance, According to a recent report by Oracle

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

The Big 5

UNICEF StartUp Lab's Ghana

Twenty-two Ghanaian startups have been accepted into the UNICEF StartUp Lab’s second cohort

by Tech Gist Africa
04/21/2021
0

...

Andela

Andela has announced its expansion into Latin and South America

by Tech Gist Africa
04/21/2021
0

...

clubhouse app

Clubhouse has completed a new round of funding, valuing the app at $4 billion

by Tech Gist Africa
04/21/2021
0

...

MTN Rwanda

MTN Rwanda to list on stock exchange in May

by Tech Gist Africa
04/21/2021
0

...

G42 Abu Dhabi Peng Xiao

G42, an AI firm based in Abu Dhabi, has received an investment of $800 million from Silver Lake.

by Tech Gist Africa
04/21/2021
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • East Africa
    • West Africa
    • South Africa
    • MENA
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.