Buksh Foundation Clean Energy Lending Program – Access to Clean Energy through microfinance

Lahore, August 07, 2014 (PPI-OT): Buksh Foundation through its unique approaches is trying to fill the gap in the microfinance industry; it is trying to cater to the commonly faced problems by the majority of micro-enterprises of the Country. Foundation is directly impacting the lives of growing number of poor people throughout Pakistan living in peri-urban and rural areas of Pakistan.

In the escalating energy challenge of the Country, when there is lack of access to affordable and reliable energy sources Buksh Foundation emerged with its innovative solutions to cater to the growing needs of the energy impoverished communities.

Buksh Foundation laid ground for its Clean Energy Loan program in 2010, today; clean energy lending is one of the fastest growing areas of Buksh Foundation’s total portfolio. Currently, the program facilitates its clients with the help of three different portable solar generators that are a complete solar home solution, a solar kit fan and a solar lighting kit, that the organization has developed with the help of its sister concern Buksh Energy Pvt. Ltd. and has a team of trained staff which has the required skills and expertise.

Solar portable generators integrate photovoltaic modules, battery storage, and other balance of systems (BOS) components with a simple control interface, the solar generator is light and compact and can be transported easily from one place to another. To date, 770 energy loans have been disbursed at 6-12 month easily installment of about PKR25,000in order to support the cottage industry of the Country and provide sustainable income generation.

Fiza Farhan-CEO Buksh Foundation explained “The vision of Buksh Foundation always incorporated the notion of impact investment, which is highly essential in a Country like Pakistan which is facing black out for up to 20 hours in a day. Foundation’s involvement in the energy sector was a result of the swelling energy problem in the cities, towns and villages of Pakistan,She added.”

AsimBuksh-Chairman Buksh Foundation said “Buksh Foundation’s product line has been developed to provide direct and sustainable relief to clients. Solar portable generators are substantial enough to deliver power for services such as lighting, mobile charging and space cooling that is critical to types of micro-businesses that Buksh supports”

While energy deprivation is a condition faced by microfinance clients worldwide, the sector’s narrow focus on providing a limited number of microcredit products is a constraint that prevents more substantial involvement in energy.

Supporting electrification directly aligns with Buksh Foundation’s commitment to addressing multiple client needs over time, not just credit for general business needs. The enormous costs that result from unreliable, limited service – or no service at all – contribute directly to low productivity and economic insecurity. Buksh Foundation recognizes the critical link between energy access and commercial success, and this explains its commitment to clean energy lending.

For more information, contact:
Buksh Foundation
54 D-1 Sir Syed Road Gulberg 3 Lahore
Tell: +92-42-35716401-9
Email: info@bukshfoundation.org

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