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Winch Energy is looking to raise funds for off-grid projects via a crowdfunding platform.
- The funds will enable the company to deploy clean energy services in Sierra Leone and Uganda.
- The developer is currently constructing an off-grid plant in northern Uganda to provide energy access to 40,000 people.
Off-grid service provider, Winch Energy, is looking to raise about £1.5 million to accelerate the deployment of clean energy services in Sierra Leone and Uganda via a crowdfunding campaign. The Crowdcube campaign is part of the company’s two-year fundraising plan.
Winch Energy has already received investment from Itochu Europe PLC and hopes to raise additional financing via crowdfunding for new projects and future expansion. Winch Energy has established a project pipeline of over 485,000 connections providing electricity access to 4.2 million people.
The developer earlier this year created Winch IPP Holdings Ltd platform in partnership with NEoT Off-grid Africa, Meridiam, EDF and Mitsubishi Corporation. The Winch IPP Holdings consists of a $16 million project pipeline comprising 49 solar mini-grid projects in Uganda and Sierra Leone.
Winch Energy is also working to scale in Uganda and become the country’s largest off-grid services provider. The developer is currently developing an off-grid plant in northern Uganda that will electrify 25 villages with 2,300 connections providing energy to 40,000 people.
Nicholas Wrigley, founder and CEO of Winch Energy Limited, noted that investors want to do good and make good returns making clean energy investments more attractive. “We hope that our crowdfunding campaign helps us to accelerate our progress in the large-scale, off-grid renewable market and gives individuals the opportunity to invest in projects that offer promising growth, impact lives and directly change the future of these communities,” Wrigley added.