Nigerian startup Solynta Energy, which installs solar systems, has successfully trialled a pay-as-you-go scheme aimed at urban homes and small and medium enterprises (SMEs).
Disrupt Africa reported earlier this year on Solynta Energy, which launched in March 2013 and has so far installed solar systems in homes, businesses, schools, clinics and filling stations, without major corporate investment.
The company is now in discussions with investors about raising a round early next year, but in the meantime launched a pay-as-you-go solar trial in October which it said has proved to be very successful.
Customers pay an installation fee of NGN100,000 (US$500) and thereafter a monthly fee for their energy usage of NGN12,000 (US$60) per KW installed. Customers have the option to buy the system outright at any point. Pay-as-you-go solar has proven very successful for the likes of Kenyan startup M-KOPA Solar, which this month raised its latest funding round of US$19 million.
“Aside from making going solar very affordable for our customers it also helps overcome concerns regarding trust, which we inevitably face operating in Nigeria,” Solynta Energy director of marketing and communications Patricia Ugono told Disrupt Africa.
The company has also penetrated into northern Nigeria, carrying out its first batch of installations in Kano, including filling stations and local eateries.
“We see this market at one of our key territories going forward due to high yields of sunshine,” Ugono said, adding Solynta Energy already has more than 500KW of installations and a current pipeline of over 500 filling stations.
The startup has also been commissioned to deliver a 170KW project for petroleum supplier Fatgbems, with the scheme including powering the company’s Apapa depot office, head office in Awuse Estate and six filling stations in Lagos and Ogun State.
“This is our largest project to date and includes an array of 200 panels on the 320 square metres’ roof area. It is currently one of the largest of it’s kind in Nigeria producing 82,125 kilowatts annually, which is enough to power 25 homes,” Ugono said.
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