“Solar energy is a great solution to environmental and energy access issues. But it is still incredibly expensive for low and mid-income people. That’s why we – GHEL – promote technology transfer, cost reduction and customized financial solutions for the Bangladeshi people”.
Dhaka, April 4th, 2010 – ASA’s new sister concern, GHEL, was presented at the Agritech Business Seminar on agriculture, biotechnology and green products of Bangladesh at the Dhaka Sheraton Hotel by Dr. Mostaq Ahmmed, COO of ASA and Managing Director of GHEL. After an inauguration speech given by the minister of Fisheries and Livestock Mr. Abdul Latif Biswas, ASA gave a presentation introducing GHEL’s objectives, mission and vision: to provide Bangladeshi people with clean, renewable and affordable energy supplies and houses. It is time for Bangladesh, which is one of the countries the most threatened by climate change and which still had a 47% poverty level in 2009, to look for pragmatic solutions to improve the life perspectives of its people.
GHEL is a sister concern of ASA highly reputed microfinance institution and of International Center for Microfinance (ICMSE) which is dedicated to Social Enterprises development. It will commercialize three types of products: Low-Cost Green Housing, Solar products and Agro Business products, all sold at an affordable price and all supported by a microcredit programme provided by ASA. There is today a crying need for decent housing and energy supply in Bangladesh, which GHEL will contribute to meet thanks to its technology transfer from Europe and to ASA’s microfinance know-how. Four solar products will enter the market: Solar Home Systems, Solar Lanterns, Solar Water Pumps and Solar Tricycle, and four different models of Green Houses equipped with clean and renewable device (solar panel, biogas plant, ecological sanitation, etc.) will be available for sale. GHEL’s products can already be seen in one of its two display centers at ASA Tower in Dhaka, and all products will be offered for sale in each of ASA’s 64 branch offices throughout all Bangladesh within June 2010.
The considerable scope of ASA network in the country (27,000 staff and 7.13 million clients) foreshadows a great future for GHEL whose strategy is to distribute its products within ASA staff and ASA clients before starting to capture the whole domestic market. Already 8,000 Low-Cost Green Houses have been ordered by ASA staff, and GHEL intends to sell 50,000 Solar Lanterns in 2010 which shouldn’t be that challenging considering the price of GHEL’s products: 20 to 40% cheaper than its existing contenders on the Bangladeshi market.
ASA & GHEL initiative seems to be more than just another environmentally-oriented project. Its combined solution (low-cost green products associated to microcredit) makes it an innovative large-scale Social Business that both overcomes the global environmental challenges issued from climate change and contributes to provide access to vital, robust, sustainable and income-generating products.
Association for Social Advancement (ASA) reveals its new venture Green Housing and Energy Ltd (GHEL) at Agritech fair and launches its first Green financing for Green products initiative.