In early May, Engie Energy Access, a subsidiary of France's ENGI Group, and Energy Web, a non-profit blockchain organization, announced the launch of a blockchain trading platform called "Solar Crowdfunding" in Africa, The platform aims to use blockchain technology to provide financing and related financial services for clean energy projects in sub-Saharan Africa.
Stefan Zelazny, head of software and IT at Engie Energy Access, said a decentralized crowdfunding platform could solve the problem of financing in underdeveloped regions. "There are at least 580 million people in sub-Saharan Africa who still don't have access to electricity, but almost none of them have a bank account, and we're using blockchain technology to connect these populations with developers of renewable energy projects that can generate clean energy or increase income. This is a way to make green electricity affordable in underdeveloped areas."
The initial funding target of the solar crowdfunding blockchain platform is $100,000, and the funding scale will continue to expand as the number of projects grows. Engie Energy Access will use the funds raised to deploy solar home systems in sub-Saharan Africa, particularly in countries such as Rwanda and Zambia, where electrification rates are particularly low.
Crowdfunding is mainly used to buy and install solar power installations, which consumers will repay over time through a "rent-to-own" model, which they will pick up at a very low installment rate through blockchain technology. For investors who participate, they receive Energy Web tokens that are expected to return 10% after a year.
