Via Nasdaq, an interesting article about a company bringing electricity to the developing world but – while so doing – building a portfolio of consumer rooftops:
Those of us who live in the developed world with all its conveniences would find it difficult to comprehend that about 1.2 billion people live every day without access to electricity. Of that 1.2 billion, about 600 million people who live “off the grid” are in Sub-Saharan Africa, where they spend billions of dollars every year lighting their homes with candles, kerosene and battery-powered lights.
Now an Indian-based company called Greenlight Planet wants to provide energy where it’s desperately needed, with the help of financing from a private equity firm, Fidelity Growth Partners in India. Their intention is to invest somewhere upwards of $28 billion to provide solar energy based products to the developing world.
One of the cofounders of Greenlight Planet, Anish Thakkar, told the news organization Spy Ghana that, “As a result of this financing we are building the largest rooftop consumer base in the developing world. We are investing especially to expand distribution in Sub-Saharan Africa.” Their goal is to service about 100 million homes by the year 2020. Greenlight Planet is an interesting company which started in 2007 and since then has expanded exponentially.
To me it is the type of company that in years past would have launched their operations from a Western country; instead they chose to make their headquarters in Mumbai. Investors wishing to know more about Greenlight Planet’s mission and operations would do well to check out their website at greenlightplanet.com.
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