SOLARHOME WILL INVEST US $ 25 MILLION IN MYANMAR OVER FIVE YEARS

SolarHome is a Southeast Asia-focussed solar energy firm that is seed funded and venture built by Singapore-based Forum Capital. Founded in 2016, it is a renowned provider of solar energy for rural off-grid households and it acts as an investment and strategic advisory firm specialising in venture building and supporting growth companies in developing markets.  The company has decided to invest around US $ 25 million in Myanmar over the next five years. SolarHome has already invested US $ 400,000 in Myanmar and the current target is to raise and invest up to US $ 1.5 million in Myanmar by the end of 2018. It is currently engaged in its pilot project on basic lighting which enables villagers around Pathein and Ayeyarwaddy to purchase solar system through a micro financing scheme. By paying just 10,000 kyats as down payment and a monthly payment of 9000 kyats for 2 years after that anyone can purchase a solar system from them. On the completion of 2 years, customers will have the ownership. Installation is free and so is repair for the two year warranty period. The company expects that it will be able to install around 2,500 systems in 2017.