IFC backs Simpa to boost mo­bile based so­lu­tions for clean en­ergy

The Pak Banker - - Front Page -

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.

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