Sun Exchange, a solar micro-leasing marketplace is in the news again and this time, the firm is partnering with Powerhive, a rural mini-grid solutions provider. The duo recently announced a new initiative, which will utilise cryptocurrency to increase global energy consumption, but they are beginning with rural Kenya. The new partnership will see Powerhive named as the exclusive recipient of the proceeds assigned to the solar project from the sales of the Sun Exchange SUNEX digital rewards token.
Abraham Cambridge, Founder & CEO, Sun Exchange explains, “The cryptocurrency community is made up of inspired individuals eager for more than just financial gain. Our partnership with Powerhive underscores the SUNEX token sale opportunity to support a crypto project geared directly towards reducing global inequality and climate impact.” He further explained,
“Together, we are working towards a world where no one is forced to cook with unsafe kerosene or wood-burning stoves, no child has to worry about how they will study after dark, and lack of energy access ceases to propel cycles of poverty.”
With more than 1 billion people lacking access to electricity across the globe, the Sun Exchange is making a difference. Sun Exchange members will subsequently be offered the sale of the solar panels that make up these projects, they will be able to own cells within the projects and earn ‘solar-powered money’ money from the electricity the projects produce. A capital of about $23 million has been proposed to accelerate Powerhive’s solar-powered mini-grid roll out. The project is funding approximately 150 new projects, which will provide power to 175,000 people who currently lack power.
Christopher Hornor, Founder and CEO of Powerhive explains, “Over the past seven years Powerhive has built a vertically integrated platform that allows us to identify, construct and operate the highest quality and lowest cost solar-powered mini-grids in Africa.” He continued saying, “At the heart of our projects are the communities we serve. By providing the power platform first and then layering in productive use programmes, we create a virtuous cycle of economic and personal empowerment that provides steady profits for both our customers and our investors. Our partnership with Sun Exchange will now give almost anyone the opportunity to invest in innovative low-carbon development projects in Africa and beyond.”
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