REDAVIA GmbH Issue 2: 6.5% Bond
£168,000 | 173 | 0 |
3.26 MW
To date, REDAVIA has contracted and/or commissioned over 3.26 MW in projects.
39 systems
REDAVIA have commissioned 39 commercial and industrial (C&I) customers with clean and affordable energy.
REDAVIA is an industry leader in solar power providing both business and communities access to clean and affordable energy through the distribution of their solar farms. REDAVIA solar provides more than just electricity but also spurs business expansion, improves education, and brings employment to developing communities. With a proven track record in cost-effective, reliable and clean energy, REDAVIA is committed to using solar energy as a key driver for sustainable development.
Their vision is to be the global market leader of cost-effective, reliable lease-to-own solar power solutions for businesses and communities, reducing emissions by over 100k tonnes/year and providing clean electricity access to around 650k people by the end of 2021.
About REDAVIA GmbH
Key product information
Issuer: REDAVIA GmbH
Issuing Country: Germany
Investment target: £167,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 6.5% per annum
Withholding tax rate: 0%
Interest payment frequency: Semi-annually
Capital repayment frequency: Semi-annually (from 12 months onwards)*
Financial instrument: Secured interest bearing bond
Security: Recourse over the assets funded via the Energise Africa platform until transferred to the Issuer’s Ghanaian Subsidiary. Recourse over the collection account that must be maintained at any time at a minimum of the total of (principal repayments + interest payments) that will become due in the next 3 months. For more information regarding security, see page 31 of the Offer Document
* For the first 12 months after the Issue Date, a "Grace Period" applies during which no capital repayments occur. The first capital repayment will take place 12 months after the Issue Date, and on a semi-annual basis thereafter. Please refer to the amortization schedule found on Page 21 of the offer document.
Key risks
This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.
You must read the investment memorandum (provided below) where a full statement of risks is presented.
Documents
REDAVIA in the media
REDAVIA's convenient lease-to-own solution empowers Ghanaian businesses to grow. REDAVIA is one of the pioneering solar companies supported by the Energise Africa initiative, a joint venture between Lendahand and Ethex
What the project investment will enable
Further to our recent communication concerning the effect of COVID-19 on our Solar Partners, monies raised under this offer will be used to repay investors from an earlier campaign, freeing up cash to be utilised for other solar projects. This mechanism allows REDAVIA to refinance their existing debt raised on Energise Africa on more favourable terms i.e. a 12 month grace period on capital repayments. Investors should be aware that this offer is for the specific purpose of easing short term cashflow of REDAVIA, and that the increased uncertainty of investing into this campaign is mitigated to an extent through an increased interest rate of 6.5% relative to earlier REDAVIA campaigns, which were offered at 5.5%.
You can read Energise Africa's full approach to COVID-19 here.
REDAVIA GmbH
REDAVIA GmbH is looking to raise £167,000 from this bond issue will be used to repay investors from an earlier campaign, freeing up cash to be utilised for other solar projects.
To date, REDAVIA has installed 39 solar units and operates them in line with Ghanaian regulations under lease-to-own contracts, with an average lease term of 12 years providing both business and communities access to clean and affordable energy. The Regional Maritime University, SGS and Red Sea Housing Services are all organisations who benefit from REDAVIA's solar unit systems. Click on the hyperlinks above to read case studies on each of these companies.
Social and environmental impact
The installation of solar plants for commercial and industrial (C&I) companies has shown to have both a significant impact on the companies and the environment. To date, REDAVIA has contracted and/or commissioned over 3.26MW in projects and has an impressive 39 solar units installed.
Social Impact
The positive impact of addressing this market gap is immense. The social impact that REDAVIA has made in Ghana to-date is:
25,200
workers and residents with access to clean energy
Educates
students for engineering jobs in the renewable sector through RMU’s ‘Renewable Energy Engineering’ curriculum
~$100
of monthly savings on energy delivered per 84kWp solar unit
Environmental impact
The units REDAVIA deploy are 84kWp in size. Since their incorporation the environmental impact that REDAVIA has had from installing their systems is:
3,960 MWhs
of clean energy produced
39
number of customers switched to clean renewable energy
2,747tonnes
of CO2 abated
Offer Documents
REDAVIA GmbH - Issue 2 - Offer Document (Log In to download)