Solar company plans subsidiary in Cambodia

Sum Manet / Khmer Times No Comments Share:
Solar panels mounted on a rooftop in a building in Phnom Penh. KT/Fabien Mouret

SolarHome, a Singapore-based solar energy company, plans to enter the Cambodian market this year, introducing the Pay-As-You-Go (PAYG) model for off-grid households in the Kingdom.

The company has also announced plans to establish a presence in Indonesia and the Philippines.

SolarHome offers a solar lighting system based on a subscription plan. Customers make an initial $10 down payment, which is followed by daily, weekly, or monthly repayments through scratch cards or mobile money.

. .

After completing the payment plan, the system is “unlocked’ and transferred to the customer. According to a company press release, this “rent-to-own” model enhances customers’ access to financing and increases the affordability of their solar energy solutions.

“Technology built into the system ensures that it won’t function if a payment is not made, giving lenders the confidence that they will be able to recover their investment,” the company said.

A recent report by the World Bank’s Lighting Global Programme and the Global Off-Grid Lighting Association (GOGLA) found that between 2012 and 2017, companies using the PAYG model accounted for about 85 percent of growth in off-grid solar investments.

. .
Share and Like this post

Related Posts

Previous Article

NBC makes call for research papers ahead of conference

Next Article

Eurocham to hold tax forum tomorrow in Siem Reap