No upfront costs In Zambia around 70% of the population, 10.5 million people, currently lack access to electricity. In rural areas only 3% have access to electricity. They are dependent on expensive and harmful fuels like kerosene and diesel. VITALITE is the first company in Zambia to allow customers to purchase solar energy with a pay as you go system, meaning that they can pay daily through their mobile phone, or by going to a VITALITE store to purchase credit. This technology removes the requirement of paying a large amount upfront and enable access to clean electricity for low-income households. 8,415 people provided with electricity VITALITE’s first loan through TRINE has enabled them to order and start distributing 1,725 solar home systems. Now they are aiming to provide additional 8,415 people with solar energy. In order to succeed VITALITE need a loan of €157,900 to order 1,700 solar home systems, which will be distributed in the area of Mwembeshi, 45 km outside of Lusaka. The solar home systems will consist of: 2 lamps Phone charger Radio Battery 6W solar panel or 20/50W solar panel TV (some of the systems ) This will enable lights in the evening, phone charging, radio and TV. Your investment will be a part of the loan to VITALITE and enable the spread of clean solar energy to 8,415 people. This project has an an expected return of 5.5% on declining balance under the condition that the loan is fully repaid by VITALITE. Repayment of investment This project has a planned payback time of 24 months. After the project has been fully funded and VITALITE has received the loan their first repayment is in 6 months after which you will be repaid on an ongoing basis. This is under the condition that VITALITE manages to repay their loan. The investment is based on a legally binding contract that is called a loan note instrument. As a proof of your investment, loan notes will be dedicated to you corresponding to the size of your investment. Contract and loan note certificate will be available to download from your Dashboard. Potential repayments can be used by you to re-invest or be cashed out from your TRINE account.
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The TRINE Way 1.2 billion people around the world currently lack access to electricity. TRINE seeks to solve this problem by closing the gap between private capital in developed countries and local solar partners in emerging markets. At TRINE we believe in profit with purpose. Our commitment to this principle stems from TRINE's founding goal: ending energy poverty. We realize that in order to end energy poverty, finding a sustainable long-term solution is key. The for-profit nature of TRINE as a business and our projects as investments means that our projects are economically viable and thereby ensures that together we can have a social and environmental impact in the long run. TRINE-financed projects will reduce CO2 emissions, reduce health costs, increase knowledge levels and reduce poverty. We've seen voting/democratic participation increase due to villagers being able to get accurate and swift information on election dates and locations. New entrepreneurial ventures pop up connected to the introduction of energy in the villages - such as fertilizer production and water sanitation. Today, we have 7 fully funded projects (350k EURO). Our success rate is 100% to-date.
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