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Founded in 2010, ERES Energía Renovable is a hybrid social enterprise that provides affordable, clean energy to off-grid communities in Mexico via solar-powered home systems. The organization is based in Mexico City and has 12 locations across the country.

While Mexico has a 97% electrification rate, there are more than 3 million people, or 600,000 households, living off the grid. Most communities are composed of indigenous people who rely on hazardous, inefficient, and dim sources of energy. 

ERES Energía Renovable serves these rural, low-income communities without access to electricity and basic services. Only 2% of their clients hold a bank account, and their average monthly income is $95 USD. This makes it difficult to apply for a loan with a traditional financial institution. ERES Energía Renovable bridges the gap through offering affordable loans, allowing individuals to finance their purchase of solar equipment at a below-market rate. 

The organization offers household solar systems ranging from 25W to 325W, which can power items such as light bulbs, cell phones, and refrigerators. As a result, clients save an average of 8-17% of their monthly income through replacing candles, kerosene, diesel, and other lighting sources. Clients also gain an extra 2.3 hours per day to spend toward income-generating activities. 

Since its founding, ERES Energía Renovable has refined its credit program and business model to better serve its clients. The organization now has a stronger community presence, hiring local employees to facilitate maintenance and coordination of payments. They have also moved to a service-based business model, allowing for more flexible financing. Clients now pay 0% interest on their loans and instead pay a minimum of $8 USD per month for maintenance costs. 

ERES Energía Renovable has funded 874 loans totaling $313,275 USD through Kiva's platform since becoming a Field Partner in 2012. 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 20, 2012 Oct 12, 2005
Total Loans $337,800 $1,608,688,920
Amount of raised Inactive loans $0 $647,750
Number of raised Inactive loans 0 706
Amount of Paying Back Loans $71,925 $165,151,500
Number of Paying Back Loans 141 202,585
Amount of Ended Loans $265,875 $1,442,889,670
Number of Ended Loans 769 1,907,536
Delinquency Rate 12.07% 17.24%
Amount in Arrears $6,022 $17,837,794
Outstanding Portfolio $34,377 $103,457,745
Number of Loans Delinquent 100 75,538
Default Rate 9.11% 1.71%
Amount of Ended Loans Defaulted $24,224 $24,702,368
Number of Ended Loans Defaulted 153 61,787
Currency Exchange Loss Rate 0.76% 0.40%
Amount of Currency Exchange Loss $2,565 $7,011,687
Refund Rate 2.98% 0.59%
Amount of Refunded Loans $10,050 $9,486,100
Number of Refunded Loans 21 8,846

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 42.12% 77.44%
Average Loan Size $258 $392
Average Individual Loan Size $318 $600
Average Group Loan Size $541 $1,805
Average number of borrowers per group 2.8 8
Average GDP per capita (PPP) in local country $15,600 $5,673
Average Loan Size / GDP per capita (PPP) 1.65% 6.91%
Average Time to Fund a Loan 0.99 days 8.07 days
Average Dollars Raised Per Day Per Loan $259.18 $48.58
  Average Loan Term 18.78 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 850 979,534
  Journaling Rate 91.05% 42.24%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.67

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 24% APR 74.00% PY 26.41% PY
  Profitability (return on assets) 0.4% 1% -0.56%
  Average Loan Size (% of per capita income) N/A 4.00% 11.35%

Country Fast Facts

Field Partner Staff

Ana Lucia Coll
Mónica Daniela Morales Campos
Fernanda Sanchez
Pablo Velázquez
Manuel Wiechers