Raised US$450K and provided technical assistance to provide affordable electricity using biomass and solar energy to rural Cambodia.
IIX facilitated an investment in Sun-eee, a renewable emerging Impact Enterprise (IE) focused on providing affordable electricity to rural Cambodia, using biomass and solar energy. The firm’s mission is to double electrification rates in Cambodia, which has the region’s lowest rural electrification rate and one of the highest tariffs. As a result, clean energy is economically viable there without subsidies, and social enterprises targeting that sector in Cambodia are highly promising areas for investment. The firm’s model focuses on acquiring existing Independent Power Producers (IPPs) and making them clean, affordable, and sustainable by linking them to biomass and solar generation sources.
IIX arranged a capital raise in the form of convertible notes, which funded Sun-eee’s first successful IPP acquisition, while other investors are in the final stages of due diligence before additional capital is committed. The investments will help enable the IE to provide clean energy to thousands of the rural underserved in Cambodia.