More information about this loan
EarthSpark International is a nonprofit organization dedicated to eradicating energy poverty in Haiti by expanding access to clean energy products for lower-income, off-the-grid households.
EarthSpark is developing a full-scale, sun powered microgrid that will power up to 500 households. This Kiva loan will allow EarthSpark to increase the number of beneficiaries by reducing the up-front costs to customers by financing their connections costs. The loan will be repaid over time by electricity sales and are collateralized by a portion of the electricity payments of the entire community. Repayments will occur over the loan term of the loan in a monthly basis. Since electricity sales depend on consumption, the amount of each repayment may vary and is expected to increase over time as the community grows accustomed to having electricity and begins to unlock economic potential through the use of new appliances.
As Kiva requires partners to give an end date for the loan, the loan term is an estimation of the time clients will take to consume enough electricity to fully pay back connection costs.
This specific loan is for a connection for a home or business. The borrower may choose to move in the future. In the event this happens, the connection will still remain in their previous home and the new renter or owner will pay back the remainder of the loan through electricity sales. We will update lenders if this happens.
To see a video of Les Anglais and the hybrid solar grid please click here.
About EarthSpark InternationalEarthSpark International is a nonprofit organization dedicated to eradicating energy poverty in Haiti by expanding access to clean and efficient energy products and services for lower-income, underserved homes and businesses. EarthSpark supports local clean energy entrepreneurs in selling products ranging from solar energy systems to portable lanterns to improved cookstoves. EarthSpark has also built and is expanding Haiti's first pre-pay microgrid which delivers electricity to homes and businesses via poles and wires at a village scale.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
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