Sunergise Equity

completed

Sunergise, an emerging company in the solar rooftop space, replicates a proven business model from the United States of America, where it purchases, owns and finances the solar systems which are installed on customer premises. Customers, in-turn, sign a Power Purchase Agreement (‘PPA’) for a duration of 10-20 years and pay for the power produced at a lower unit cost than what they would have paid for from the grid, on a monthly basis. The success of the model has been driven by the fact that customers are able to adopt cheaper, cleaner power without having to outlay any upfront capital expenditure. IFC’s investment will provide project equity which will enable Sunergise International Limited (‘Sunergise’, or the ‘Company’) to scale up and mobilize additional commercial debt financing to install solar projects. Sunergise has a portfolio of projects which it has installed using Sponsor capital and commercial debt. Since the business commenced over 18 months ago, it has built solid pipeline of reputable customers across the Pacific. To date, the Company has installed 0.9MW and with IFC’s financing can install an additional 2MW of solar systems across the Republic of Fiji, Solomon Islands and the Independent State of Papua New Guinea (‘PNG’).