Energy for Prosperity
Pact Ventures invested Series A equity in a company that designs and manufactures off-grid solar appliances and income-generating solutions for base of the pyramid customers. Its affordable, modular solar home systems, lifestyle and productive-use appliances improve health, environmental, and livelihood outcomes. Through this investment, Pact is leveraging its on-the-ground presence to provide communities with access to affordable, reliable energy.
Smart Power Myanmar
Smart Power Myanmar is accelerating access to renewable energy for poor and vulnerable people in Myanmar by bringing together key players in the public and private sectors, spurring economic growth and transforming lives in rural communities. The Smart Power Myanmar facility is building a viable, decentralized renewable energy ecosystem by ensuring the right incentives and policies are created to expand the reach of productive power to those who live without sufficient access, with a focus on customer-centered solutions, long-term socio-economic development and systemic change. The Smart Power Myanmar facility aims to mobilize hundreds of millions of dollars to support the rollout of thousands of mini-grids and other rural electrification solutions that are in line with Myanmar’s National Electrification Plan. In addition to The Rockefeller Foundation, the facility’s founding members include The World Bank, USAID and Yoma Strategic Holdings. Learn more at smartpowermyanmar.org.
Ahlin Yaung Renewable Energy Program
The Ahlin Yaung (“light” in Myanmar language) Project is working to provide renewable energy access in rural Myanmar. Myanmar has one of the lowest electrification rates in Asia, with the national electricity grid reaching only a small part of the population, mostly in urban areas. Ahlin Yaung uses Pact’s Village Development Committees (VDCs) and WORTH savings groups to manage the program at the community level. VDCs, through community-managed revolving funds, provide funding for households to purchase solar energy systems for homes and businesses. With Chevron's latest Ahlin Yaung grant, Pact is working with unelectrified villages in Meiktila Township in the Mandalay region to advance economic opportunities for rural women and village entrepreneurs. The effort is promoting women’s entrepreneurship through training, skills development and linkages with government and financial service providers; advancing small enterprise development through standalone decentralized energy solutions and productive use of renewable energy; and electrifying rural education and health facilities. Pact is expanding its use of the successful revolving loan fund model for solar energy solutions and offering innovation grants for electrification of post-primary schools and health sub-centers.