High Energy Planet Kate Steel: On a Mission for Universal Energy Access
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Dec 5, 2024 Kate Steel, co-founder and CEO of Nithio, discusses her mission to finance clean energy in Africa. She shares insights on the evolving landscape of energy access funding, emphasizing the need for public investment in underserved markets. Kate reflects on her transformative experiences in Kenya and highlights the resilience of the off-grid sector during the pandemic. They delve into trends in electric mobility financing and the significant role of data analytics in building consumer trust, while expressing optimism for future energy initiatives across the continent.
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Kenya's Power Crisis
- Kate Steele's interest in energy access stemmed from a trip to Kenya during a power crisis in 2000.
- Witnessing the disparity between technical feasibility and actual access sparked her interest in policy and financing.
Subsidies in Energy Access
- Early energy access programs aimed for fully commercial markets, but subsidies are now recognized as crucial.
- Reaching universal access requires significant public and philanthropic capital for harder-to-reach households.
Nithio's Mission
- Nithio uses data analytics to understand payment patterns and risk for lending to off-grid households.
- This unlocks receivables-backed financing for off-grid power companies, enabling their scaling.