Qorax Energy

Qorax Energy operates as a solar asset financing and distribution company with a focus on bringing renewable energy to frontier markets, particularly post-conflict regions. The company was co-founded in 2012 by Nigel Carr, Christian Desrosiers, and Abdishakur Mohamoud. The initial idea was conceived by Carr and Desrosiers, Amherst College classmates, after Desrosiers returned from two years in Somaliland and witnessed the high costs and lack of access to energy. Carr, whose interest in clean energy stems from his upbringing in Maine, had been working for a solar developer focused on contaminated land. Mohamoud, a Somaliland native who experienced energy scarcity firsthand growing up, brought essential local knowledge and experience in managing infrastructure projects in East Africa. His past roles included coordinating a major airport upgrade in Somaliland.

Qorax's business model centers on establishing and working through local for-profit subsidiaries to distribute solar products and provide entrepreneurship training. This approach aims to build local capacity and avoid reliance on foreign contractors. The company operates primarily in Somaliland, Somalia, and the Democratic Republic of the Congo. It targets a significant market failure, noting that in Somaliland, residents can spend over 30% of their income on energy from inefficient, imported diesel generators, among the highest electricity prices globally. By providing solar solutions, Qorax enables consumers to leapfrog traditional grid infrastructure, similar to how mobile phones surpassed landlines in the region. The company sources solar products from leading suppliers rated by institutions like MIT D-Lab and the World Bank. Through its portfolio companies, such as Enersom in Somalia and ALTech in the DRC, Qorax has sold over 17,000 solar products.

The company's financing structure involves creating vehicles for entrepreneurs in these hard-to-reach areas and partnering with local educational institutions like Abaarso Tech University to incubate renewable energy businesses. This strategy is designed to address local energy issues while fostering job growth. For customers, Qorax offers financing programs that allow them to pay for products in smaller installments, making the technology accessible to low-income households. The services provided are critical in regions where up to 90% of the population has sporadic or no access to electricity, relying on costly and hazardous kerosene lanterns. Qorax's efforts are geared towards reducing household energy expenditures, creating local employment, and providing a stable power source that supports both households and local businesses.

Keywords: solar asset financing, off-grid solar, frontier markets, renewable energy distribution, Somalia energy, Somaliland solar, DRC clean energy, energy access, distributed generation, rural electrification, social enterprise, impact investing, clean technology, local entrepreneurship, energy infrastructure, household solar, pay-as-you-go solar, sustainable development, energy poverty, clean-tech incubator