Solar E-Cycles Kenya Limited
Solar E-Cycles Kenya Limited (SECK) was formed as a joint venture between OFGEN Limited and STEINRICH CYCLES S.A.R.L and it uses off-the-shelf parts (PV panels, batteries, bicycle frames and e-bike motors) to create the lowest cost 4-wheel transportation device that does not require fuel. It is designed for at least 2 people + baggage with a daily commute of 50km using solar energy. The company has promoted it as a power station on wheels so it can provide lights for the home and business of the energy-poor in off-grid communities. They lease it for $0.50 a day without any down-payment so the poorest people can be customers. The company’s logic for the use off-the-shelve parts is to avoid manufacturing facilities and keep the costs down. They engage the microcredit institutions to operate the commercial leasing aspects in a win-win partnership avoiding building a distribution network, take advantage of their ability to select responsible customers and to manage accounts keeping defaults low. In addition, they provide them and investors with 24/7 GPS performance and location tracking for credibility and asset security.