Badhan Electricity Company (BEC) is an independent power production and distribution company established in 2003 in Badhan, Puntland. The company is the sole provider of electricity to residential, commercial, and public/social services sectors via the company’s own generation capacity and transmission lines. BEC sought an investment to fund its shift from diesel exclusive to a hybrid diesel-solar grid-tied system.
After Shuraako helped BEC secure a loan, the company was able to increase its power capacity from 720kW to 782.5kW, thus creating a 90% diesel and 10% solar energy grid (720kW Diesel/62.5kW Solar). BEC aspires to gradually diversify its power generation to 60% diesel and 40% renewable energy by 2018. They hope to increase renewable energy power generation mix to 80% in five years (2020), as the company hopes to procure additional solar equipment the coming years.
Shuraako believes in responsible investments that abide by environmental, social, and governance (ESG) standards. Shuraako employs a review and monitoring system to identify and address ESG issues facing each investment.