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Total loan: $50,000
Kampong Chhnang province, Kampong Chhnang Province, Cambodia / Services
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Nalen's loan finished fundraising,
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A loan helped to purchase solar panels that will offset diesel-powered generators.
Problem Nalen is a farmer in rural Cambodia and he wants to install solar panels on the farm to replace his diesel-powered generator. Nalen manages a large farm which employs more than forty people from his community so it’s important he has a reliable source of electricity. Since Nalen’s farm is located outside the reach of Cambodia’s electrical grid, his only option at the moment is to use diesel-powered generators. He doesn’t like these generators as they are bad for the environment that himself and other farmers depend on. Nalen hopes to lead by example in his community by investing in solar panels to power his farm with clean renewable energy. Solution Nexus for Development is an NGO based in Cambodia that helps provide rural farmers with collateral-free financing so that they can afford the upfront costs to switch to clean energy sources. This kind of investment will increase farmers’ incomes over the long-term while also promoting more sustainable agricultural practices and a reduction in greenhouse gases. Loan Use This loan will be used to purchase and install 128 solar panels on Nalen’s farm. By reducing his expenses on diesel, Nalen can use these cost savings to meet his loan repayments and increase his income.