Greenlight Planet inc

Africa

Region

1.5

Investment (MNOK)

Exit

Status

Greenlight Planet is a pay-as-you-go energy provider to off-grid homes in Africa under the brand Sun King. The company provides electricity from solar systems through mobile phone payments. Norfund has participated in a loan syndicate to finance the expansion of the business.

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Key information

Sector:
Renewable Energy
Investment (MNOK):
1.5
Year:
2019
Region:
Africa
Country:
Kenya
Domicile:
Kenya
Instrument:
-
Status:
Exit
Mandate:
Development

Greenlight Planet’s Sun King products offers clean, renewable and reliable energy to sixty million individuals across 65 countries. This new funding will enable Greenlight Planet to further expand its Pay-As-You-Go (PAYG) solar home systems business in Kenya, Tanzania, Uganda and Nigeria.

Additionality for Greenlight Planet inc

This investment is particularly additional on the following ambitions:

  • Investing in the most capital constrained markets
  • Investing in the riskiest markets

Expanding energy access in Africa