Off grid renewable energy provider Winch Energy has launched a crowdfunding campaign to fund solar off grid developments in Sierra Leone and Uganda.
The campaign enables individuals to invest in Africa’s growing clean energy market via Crowdcube from as little as £10.
Winch Energy’s work aims to help the UN meet its Sustainable Development Goals (SDG), specifically SDG 7, which ensures universal access to affordable, reliable and modern energy services by 2030.
With less than a decade left, Winch Energy is targeting countries in sub-Sahara Africa, which has the largest proportion of people without access to energy, to make the biggest impact.
To date, Winch Energy has raised $18m through equity and loans and has established a pipeline of projects that will benefit over 4.2 million people in off-grid communities.
Earlier this year it closed the largest ever mini-grid financing platform, a $16m project via Winch IPP Holdings.
This round of crowdfunding will fund further clean energy projects in Africa and support Winch Energy’s ambitions to become the largest off-grid utility in Africa.
The London-based company has already received investment from shareholder Total Eren, which has pledged £375,000 to the Crowdcube campaign.
The organisation has already installed pilots in Mauritania and Benin; developed an award-winning project to power community healthcare centres in Sierra Leone; given energy access to 20,000 people on Lake Victoria; and just last week began construction for 25 mini-grids in Uganda’s northern Lamwo district.
Nicholas Wrigley, founder and CEO of Winch Energy, said: “We have already seen great growth in Africa’s clean energy market and the current spotlight on levelling up while managing climate change will push for further progress.
“This crowdfunding campaign gives individuals the opportunity to participate in the development of the company and invest in change.”