With Devergy to provide energy access in rural Tanzania

31 Luglio 2015 - We are extremely pleased to announce the closing of a co-investment in  Devergy Energy Services, social enterprise devoted to provide affordable and reliable energy eccess to villagers in rural Tanzania. Devergy operates as a small utility company, installing systems called “Enbox” (energy boxes), connected each other via cables and connected to meters placed at household level. Every meter is associated to a unique user number, and allows the company to supply electricity on a pre-paid basis.

Devergy was founded by  Fabio De Pascale and Gianluca (Gian) Cescon, two italian engineers with previous experience in the Netherlands. They developed the idea during a travel, where they were asked by some villagers to fix some small solar installations that had been out of order since a long time due to trivial technical problems. They easily managed to solve the issue, and they realized how much such a small effort could mean for a small off-grid village. They identified Tanzania as target country, left their jobs and moved to Africa to startup Devergy.

We have co-invested in a large round participated by a pool of international investors, some of which with a specific focus on renewable energy: Acumen Fund (US), HERi Africa (Germany), Persistent Energy Partners (US) and Impact Assets Emerging Market Climate (US). The new funds will be used to finance the expansion of the outreach: the plan is to install 330 new micro-grids and to serve more than 150.000 users by 2020.