Why Asoba DeFi?
Asoba DeFi is a utility scale solar development and financing company. Based in both San Francisco and Gaborone, Botswana, we have a vision of creating Africa’s premier clean energy network and an aim of achieving 99.999% grid reliability. To help finance the creation of solar farms and battery storage, we are selling NFTs within the Flow blockchain ecosystem. That thesis lead to the growth of what we believe to be the future of clean energy development in Africa.
Our thesis is based on the two core problems faced by governments across the continent:
- 1.Business-as-usual is outright failure of national grids to ensure reliable power or to make electricity a ubiquitous resource. As a result, nearly 80% of businesses across the continent experience significant power reliability issues, with just over 50% investing in onsite diesel generators as backup.
- 2.Failures by national grid operators and volatile fiscal/monetary policy from governments have discouraged traditional finance from investing in African infrastructure projects. Governments are unable to raise adequate financing on their own and generally rely on project sponsors to raise 100% of project capital. As a result, 90% of all proposed renewable energy projects fail to get built.
There is a clear linear relationship between GDP/capita and electricity consumption. ~70% of electricity consumption comes from industrial and commercial offtakers. For them, lack of electricity reliability means lack of economic output. For the local economy it means reduced formal employment opportunities and low ceilings on household income.
Our thesis is that web3 can and will drive major reallocation of liquidity towards real assets like renewable energy. And that this can have a transformational impact on the growth trajectory of developing world economies while simultaneously helping these areas address the impacts of climate change.
In our first release, coming this September, will feature NFTs in four different price tiers - $100, $200, $500, and $1000, with a total target raise of $250K. Each tier has its own unique rewards, but all tiers will receive airdropped Flow tokens for each tonne of CO2 that our projects offset. Designs of our first public mint will feature mythical and epic African heroes popular across the southern African countries where we have our first major projects underway.