VEP

 

Partner since: 2022

 

VEP is a unique microfinance institution in that it focuses specifically on offering credit for green energy products, such as clean cookstoves and solar solutions. In addition to offering green energy loans, which comprise VEP’s largest loan type by volume, VEP provides loans for water harvesting systems, business, and agriculture. All borrowers, 97% of whom are female, must begin with a renewable energy loan before they access other loan types. VEP also sells solar products directly, comprising over 10% of VEP’s total revenue. VEP identifies a lack of access to affordable, sustainable, and clean energy as a social economic gap that hinders the achievement of economic development in poor, last mile communities in Kenya. VEP’s clients are largely rural and live at the bottom of the economic pyramid.