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.
Ahlin Yaung Renewable Energy Program
The Ahlin Yaung (“light” in Myanmar language) Project is working to provide renewable energy access to 1 million low-income people in rural Myanmar by 2021. 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 photovoltaic equipment on hire-purchase. WORTH groups manage community solar charging stations, which charge special batteries for household lighting and mobile device charging, to distribute electricity to communities. Both the revolving fund and WORTH group models generate interest and income for other village development activities. Ahlin Yaung also provides funding to villages to purchase photovoltaic equipment at the community level.