Check out some available loans that are similar to this one!
Anonymous
For the borrower's privacy, this loan has become anonymous. Lenders to this loan can sign in to view complete details Learn More

Additional Information

More information about this loan

PowerGen is a Nairobi-based renewable energy enterprise, founded in 2013, that aims to improve access to electricity in rural regions of East Africa by providing communities with micro-grids. PowerGen seeks not only to reduce dependence on inefficient, expensive and harmful forms of energy (e.g. kerosene) but also to unlock the potential contained within these communities by supplying them with enough power to drive forward economic growth.

By partnering with Kiva, PowerGen will be able to provide micro-grids to communities on credit, thereby vastly increasing the organization’s impact. Kiva lenders’ funds will help PowerGen to provide in-kind micro-grid loans, which will be repaid over the loan term with the 2.7 cent fee that users pay per kilowatt hour. A 5-10% loan administration fee will be applied over the loan term.

Tags

About Kenya

  • $1,800
    Average annual income
  • 557
    View loans »
    Kenya Loans Fundraising
  • $49,768,275
    Funds lent in using Kiva
  • 85.8
    Kenya Shillings (KES) = $1 USD
Paying Back - Delinquent
A loan of $9,800 helped this borrower to pay for a connection to the solar micro-grid installed in Ololailumtia. With connection to power, Teresa will be able to increase her business in her shop and salon, by selling cold drinks, phone charging, and offering haircuts using electric clippers.
24% repaid
Repayment Term
86 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Mar 1, 2014
Listed
Dec 26, 2013
Currency Exchange Loss:
Possible