WELCOME TO THE TEAM

The German Investment and Asset Management company KGAL has taken a twenty percent ownership position in SunErgy through a private placement. With an option to increase their ownership.

Two of the members of the Management Board of KGAL, Chief Operation Officer Gert Waltenbauer and Chief Investment Officer Klaus Wolf, also concluded a parallel investment of two percent. Dr. Wolf will also join the SunErgy Board of Directors.

“We are very pleased for KGAL to join us,” says Chairman of the Board of Directors and one of the main shareholders, Alf Bjørseth, who continues “KGAL is an investment firm with twenty billion EUR under management. They are active in real estate, airplane leasing and renewable energy, owning several solar parks in Europe. They have been studying the potential of the off-grid solar market and solar energy companies being active in Africa for some time. We are proud that they finally selected us.”

“The money from KGAL will be used for continued expansion. Our goal is to have one million users within eight years and be one of the leading off-grid solar energy companies in Africa. So far, focus has been on Cameroon with the intention to expand into a couple of more countries, preferably in West Africa,” Bjørseth concludes.

As previously informed, eight solar power stations will be opened this year, giving electricity to more than 20 000 people. In addition, we will deliver solar power electricity to mobile companies for operating their mobile towers, minor private and public enterprises, schools and health centers. 

The African off-grid market is enormous. We are all set to go. We have built the infrastructure, made all agreements necessary and tested the equipment. The first four villages have been up and running for some time. Everything works as planned and we are, together with our 42 colleagues in SunErgy Cameroon, not only ready to roll out; we are going full steam ahead”.

FOUR MORE VILLAGES

During the International Solar Day 2018, held in Oslo on May 16, we signed the agreement for the purchase of four more villages; this in addition to the two already delivered. 

The International Solar Day is an annual event gathering representatives from the Norwegian solar industry, sponsored by Norwegian Energy Partners and Solar Energy Cluster Norway.

The picture shows Mr. Morten Schøyen, CMO at Eltek and Dr. Stein Skjørshammer CEO of SunErgy signing the agreement; Eltek being the “solar equipment” supplier.

We shall “electrify” eight villages this year. No shortage of work. With the equipment for the next six villages ordered and delivered, we are well under way.

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VIDEO FROM KOTHO 1

September 8 will be a milestone day in the history of Kotho 1; they will have access to electricity, Cable TV and Internet.

Mr. Mike, Managing Director of SunErgy Cameroon and his 30 member team are working hard and diligently to make a brighter and more prosperous future come through for the people of Kotho 1.

On our visit to Kotho 1 a couple of weeks ago, we were accompanied by a team from HiTV in Buea who made the following report for you to enjoy.

Please spread the good news. Let the world know!

GETTING CLOSER

On the 8 of September we will switch on electricity in Kotho 1 – the third village in the project.

Work is going full speed ahead with more than twenty people working in the village wiring homes, constructing the solar park and building the grid for electricity, cable TV and Internet.

The excitement and expectation is to be felt as soon as you arrive at the village; the dawn of a new day!

Enclosed are four pictures from Dr. Skjorshammers visit last week, showing young electrician going to wire a home, a home just being wired, pulling a 2000 meter cable for the grid from the solar power station to the road by hand and pulling 4000 meter cable constructing the grid using a car. Hard manual work! But then, we are deep into the rainforest! Not very sophisticated, but it works! The rainy season does not make it any easier. Soon September 8 is here and more than 100 years of darkness turns to light! More than 3 000 people will experience pure joy! Waiting is over!

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SOLAR ELECTRICITY TO THE BORORO PEOPLE

On my last visit to Cameroon (May 13-22) SunErgy entered into an agreement to the tune of an estimated 23 million USD with the Bororo Fulani (tribe). The plan is that SunErgy shall provide 100 Bororo villages or 33 000 families with solar electricity, Cable TV and Internet.

The project is fully financed by the Republic of Cameroon and the Islamic Development Bank. Banja will serve as the pilot and when successfully up and running we will move to the other villages.

The Bororo people, who used to be nomadic herdsmen, occupy many parts of Central and West Africa. Today they mostly live in smaller villages such as Banja, still active in agriculture and cattle rearing.

The picture shows (right to left) Managing Director of SunErgy Cameroon Mr. Mike Fohba, initiator and manager of the project Professor Alfred Ndi and Managing Director of SunErgy AS Dr. Stein Skjørshammer standing on a future solar plant site.

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MORE THAN 30 NEW JOBS

Bokosso was the first village that “saw the light” about 1 1/2 year ago.

Upon my last visit to Bokosso (a week ago) I learned about the creation of more than thirty new jobs since the day the electricity was switched on. One is a bakery, which employs ten persons and delivers bread to Bokosso and twelve surrounding villages!

Another interesting eye-opener was all the building of new houses. In Bokosso alone more than five new houses have been built with additional being constructed. People are buying land to build on. As the Chief John Benga of Bokosso said in a television interview when switching on electricity: “Bokossso will never be the same. Houses will be built, jobs created. People will buy land and move to Bokosso.”

Chief Benga was right. Things are changing fast for the better for people in Bokosso, but not only for them. Soon development will reach the other villages in the region. People are already buying land and building new houses knowing that electricity, cable TV and Internet soon will come their way.

Prosperity and a brighter future is more than a dream. It`s a dream come true. Reality!

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THE 5 MILLION-NOK MILESTONE DAY

Friday was a milestone day in the history of SunErgy as the company successfully completed a 5 000 000 Norwegian krone or a little more than half a million Euro share capital increase.

“This is how we planned from the very start” says the Mr. Haugen, chair of the board of directors and co-founder together with Dr. Skjorshammer, who serves as Managing Director.

“The idea from the very beginning has been to take in additional capital as we continued building” Mr. Haugen and Dr. Skjorshammer informs. “So far it has worked as planned. Existing shareholders contributed the money needed to finish the next villages. We interpret this as a vote of confidence in us, the worked carried out and the vision of SunErgy. Actually, we could have gotten more money, but this was what we needed this time”, they concluded, thanking all who support and take an active part in the future success of SunErgy.