The Singaporean solar power company SolarHome has introduced its products in Myanmar, targeting the sizeable portion of the country’s population that lives off-grid.
Under its Pay As You Go (PAYG) system, customers don’t need to purchase their solar power system outright.
Instead they pay off the price in monthly instillments that are similar to their monthly expenditure on traditional energy sources, the company says.
“Our clean energy will better rural people’s lifestyles and create work and educational opportunities,” said Ted Martynov, SolarHome’s CEO.
The company is backed by the developing markets investment firm Forum Capital.
SolarHome has introduced three solar products to cater for Myanmar’s off-grid rural population including the the SunKing Home 60 – three lights powered by a single solar panel.
Decades of economic mismanagement under the military junta has left the country unprepared for the recent surge in demand for electricity, with less than 40 percent of the population able to draw power from the grid.
Cheap, fast and environmentally sustainable off-the-grid solar power is an effective way of bringing electricity to houses in Myanmar’s remote communities and is being touted as a key component to achieving the government’s ambitious target of 100 percent of the population having access to electricity by 2030.
SolarHome says that their products, when used as a substitute kerosene, commonly used as an off-the-grid household fuel, improves the health of households, reduces Co2 pollution and encourages social economic development in rural communities.
SolarHome was founded in 2016, and is working with INGOs to promote clean energy in Myanmar, the Philippines, Cambodia, and Indonesia.
Source: Myanmar Business Today
