Hugh Whalan, PEG’s CEO, first took the leap into business with Energy in Common, which pioneered international crowdfunding for energy loans (funding products like solar home systems and cookstoves). It received money from lenders in 35 countries, and supported projects in Ghana, Tanzania and Nigeria. Despite early successes, the company was struggling to pay Hugh’s salary… turns out that people love to fund projects, but not overhead.
Hugh realized that in order to make a real dent in the problem of energy access in Africa, he needed to build a business that was financially sustainable. So he set up his second company, Impact Energies, which provided innovative financing for solar home systems in Ghana.