In November last year, Sun Exchange (a solar crowdfunding startup) started its African expansion in Zimbabwe by commissioning a 1.9 MW, US$1.4 million solar crowd sale for produce exporter Nhimbe Fresh. The crowd sale was set to be the biggest held by Sun Exchange in Africa and as of Wednesday last week the project has reached its goal.
“This is the highest earning potential of any solar project run through the Sun Exchange platform to date.”
Sun Exchange via Reuters
At the end of it all, there were 1700 individual investors who bought various portions of the 1.9MW plant. The plant itself is going to be done in 3 phases, the first will cover Nhimbe Fresh’s packhouse and cold storage. Phase 2 will be for the pump sites and the last phase will be for Churchill Farm.
“Going solar through Sun Exchange is a significant step towards that vision, minimising our energy costs and climate impact while strengthening our resilience and business continuity by enabling us to continue operations during power outages,”Edwin Masimba Moyo, Chairman Nhimbe Fresh
Want to know more about Sun Exchange?
Early last month we had a conversation with Nhimbe Fresh Chairman Edwin Moyo and Sun Exchange CEO Abe Cambridge. We got insights on how Sun Exchange works, and how they were able to link up with Nhimbe fresh on the US$1.4 million solar crowd sale.
You can check out that podcast below.