CLASP created a $6.5 million financing facility to help Africans adopt energy-efficient appliances. The GEAPP Global Energy Alliance for People and Planet played a key role in helping CLASP launch the facility.
Access to household appliances that are conducive to productive use can deliver a number of economic, health, educational, and quality-of-life benefits. It can also lead to better electricity in under-electrified parts of the world. However, it’s difficult for many people to afford these appliances, because they’re so expensive.
Speaking at the official launch of the CLASP facility in Kigali, Rwanda, director Jeff Stottlemyer said, “This facility is designed to catalyze private investment in appliances at scale, making those appliances more cost-effective and obtainable.” With the help of Nithio, CLASP identified six appliance technologies based on their maturity levels and ability to drive economic development – walk-in cold rooms, refrigerators, electric cookers, fans, mills, and solar-powered water pumps. By making affordable and accessible appliances, the facility can better lives. This will provide income for farmers and small businesses as well as create sustainable jobs for renewable energy projects through increased demand for electricity. This facility will open in a number of countries in Africa. They have some of the highest population growth rates in the world and immense potential for economic growth.
Nithio’s Chief Executive Officer, Kate Steel, discussed GEAPP’s support of the organization and remarked, “GEAPP’s support will enable Nithio to leverage our unique data-driven approach to make consumer financing accessible for more companies.” She goes on to say that data-driven growth will make it easier for their customers – those who use Nithio products – to afford their needed technologies.
How it Works
The facility will offer all kinds of subsidies, support, and grants to help you get your business started. They’ll show you how to get financing, discounts on bulk purchases, or even develop your own system to keep your costs down.
About CLASP
CLASP operates to mitigate and adapt to climate change by improving appliance and equipment quality. All of this improves access to renewable energy for low-income populations. CLASP implements Renewable Energy Services like cooling, communications, and mechanization, which empower low-income communities in a climate-friendly way. CLASP works globally with teams in Washington DC; Nairobi, Kenya; New Delhi, India; Brussels, Belgium; and Jakarta, Indonesia.
About NITHIO
Nithio is an energy financing company that leverages deep sector knowledge, geospatial data, and artificial intelligence to forecast repayment patterns. Adding detailed insight on projected cash flows, our team can help you finance energy access technologies.
About the Global Energy Alliance for People and Planet
The Global Energy Alliance for People and Planet (GEAPP) is an international non-profit organization that enhances energy security worldwide. We do this by partnering with utilities companies to accelerate the deployment of clean energy technologies.
The Global Energy Alliance for People and Planet is a coalition of governments in emerging economies, environmental organizations, NGOs, private sector investors, nonprofits, multilateral organizations and foundations. Our mission is to support developing countries’ shift to clean energy sources by building infrastructure and providing financial assistance to help them make this transition without sacrificing growth. We encourage business leaders to invest in new innovations that will reduce emissions while creating jobs and opportunities. By investing in GEAPP now you can help fight climate change while enhancing your community’s well-being.