1. Lessons Learned: From Lending $600m to Off-Grid Energy Companies

    pdf Publication #12
    At the GOGLA Forum in Nairobi six active lenders to PAYG companies - SIMA, SunFunder, responsAbility, OIKO credit, Lendahand and CDC Group - shared their lessons learned and provided an outlook on the sector. This short report is a structured summary and reflection on the key points that came up.
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  2. Business Analytics for PAYG Companies

    pdf Publication #11
    This paper presents a Business Analytics Toolkit that provides a methodology to assess the performance of a pay-as-you-go (PAYG) solar company’s portfolio of consumer receivables.
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  3. Bridging the Gap to Commercial Success for Energy Access Businesses

    pdf Publication #10
    In this paper, Shell Foundation and Persistent explore why the PAYG sector is perceived as lagging, our view of what is happening and why. It will also explore what the sector needs to remain on track to reach maturity and SDG7’s promise of energy access.
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  4. Securitization: Unnecessary Complexity or Key to Financing the DESCO Sector?

    pdf Publication #9
    We describe how securitization can work in the DESCO sector, providing basic structure, terms and pricing theory.
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  5. Financing DESCOs: A framework of financing working capital for Distributed Energy Services Companies

    pdf Publication #8
    This paper looks at the growing need of Distributed Energy Services Companies (DESCOs) to secure working capital financing for growth.
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  6. Hype in the Energy Access Sector

    pdf Publication #7
    In response to a piece written by Ceniarth’s Greg Neichin, Diane Isenberg and Mary Roach, we welcome the views of an investor that looks at this promising sector with a critical eye, but are compelled to explain why we strongly disagree with their analysis.
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  7. Financing the DESCO S-Curve

    pdf Publication #6
    In this article we assess the state of the market and attempt to forecast the amount and types of capital needed, focusing on the stages of growth of a DESCO and the potential macro market demand.
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  8. Distribution: Addressing the Central Energy Access Challenge in Africa

    pdf Publication #5
    Distribution, reaching customers with products or services, is an underestimated challenge to providing access to energy to low income off grid people.
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  9. Considering Access to Energy Services

    pdf Publication #4
    This paper, in conjunction with a forthcoming paper that provides a more in-depth look at distributed energy service companies (DESCOs), provides a picture of our understanding of this market and the businesses that we believe will expand to serve it at scale within the next decade.
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  10. DESCO: A Commercial Solution to the Energy Access Challenge

    pdf Publication #3
    This thought-piece focuses on a technology-agnostic, market-driven approach to rapidly scaling-up the availability of rural energy services that we believe, with the right conditions, could efficiently and cost-effectively reach somewhere close to 500mm people over the coming decade.
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  11. Thoughts on the ‘ABC’ model for rural electrification

    pdf Publication #2
    The ABC model consists of building energy generation infrastructure designed to serve both anchor loads (e.g. cell phone towers) and rural, off-grid households.
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  12. Currency Risk and Mitigation Strategies for the Off Grid Energy Sector

    pdf Publication #1
    This paper is a practical guide to typical currency risks and general mitigation strategies in the energy access sector. It is intended for Distributed Energy Services Companies, their equity investors and lenders.
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