East and West Africa
- Small Hydro
Size of Investment
Total Fund Size
General Fund Information
Type of Investment
Equity or Debt
Investors of Fund
Calvert Foundation and Private Investors
Size of Investment
Devergy Energy Services, social enterprise devoted to provide affordable and reliable energy eccess to villagers in rural Tanzania. Devergy operates as a small utility company, installing systems called “Enbox” (energy boxes), connected each other via cables and connected to meters placed at household level. Every meter is associated to a unique user number, and allows the company to supply electricity on a pre-paid basis.
Additional Project Characteristics
Early stage and growth stage energy enterprises and project developers of small renewable energy projects.
Additional FMC Info
Impact Assets funds.
Location of Registration and HQ
New York, USA
Primary Contact Information For Developers
Types of Financing
Technical Assistance / Grants
Flexible structure of repayment. Require collateral.
Guarantee / Insurance
Requirements for Financing
The venture must have an innovative, profitable, and scalable approach to increased access to energy, or renewable energy generation. The company must also be operational and a pilot phase has already been completed including proof of concept with regards to technology and business model at local level. The company has the management capacity, human resources and know-how to substantially scale their activities.
Increased access to energy or reduce CO2 emissions.
Due Diligence Requirements
A comprehensive business plan and financial projections that demonstrate the venture’s ability for profitablity and impact.
Detailed Description Of Funding Process Procedure
Pre-screening review based on business plan and financial statements, to asses the risk in the business. The review is sent to investment committee for initial approval. Screening phase: legal documentation, collateral, compliance checklist based on the sector. The final term sheet must be approved by the investment committee. Both stage takes up to 4 months.