IFC backs Simpa to boost mobile based solutions for clean energy
NEW DELHI: IFC, a member of the World Bank Group, is advising India’s local technology start-up Simpa Networks to expand a meterbased prepaid energy service using an innovative pricing system to provide half-a-million rural Indians access to affordable and clean energy over the next three years. Rural Indian consumers with low and uncertain incomes find it difficult to pay the upfront cost of a solar energy system. With IFC’s support, Simpa Networks is working towards enabling consumers and small businesses to access and pay for electricity based on actual use the same way they pay for cellular services using a mobile phone. Once a user has bought a solar system for a small initial cost, he can recharge it according to his usage need.