Powerhive and Sun Exchange Aim to Invest $23M in Microgrids for Kenya

Sun Exchange expects to raise as much as $88 million via an initial coin offering (ICO) of SUNEX digital rewards tokens that’s running through year-end. As much as $23 million will be invested to “pre-finance” installation of as many as 150 new Powerhive rural microgrids.

The “pre-financed” Powerhive microgrids slated for listing on Sun Exchange will have the capacity to power about 175,000 rural villagers at a cost equal to or less than that they’re paying for kerosene, charcoal, firewood and other traditional fuel sources, said Chris Hornor, founder and CEO of Powerhive.

“The difference between what we’re doing and installation of home solar energy kits and services is that we’re providing a larger scale, standardized, utility aspect to distributed solar electrification. Our microgrids enable us to generate a lot more solar energy and distribute that energy more efficiently, sharing it across many more customers,” Hornor said.

Source: Microgrid Knowledge

 


 

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