Sun King Financing Limited
Region
Commitment (MNOK)
Status
Sun King (Greenlight Planet) is an off-grid solar energy company that designs, distributes, installs and finances solar energy solutions for African and Asian households and businesses who cannot access, rely on or afford traditional electric grid connections. Sun King customers can purchase products using the company’s technology-enabled, pay-as-you-go “Easy Buy” financing service, which breaks payments down into regular, affordable instalments. Norfund has participated in a Kenyan-Shilling-denominated $130 million sustainable securitisation transaction. The syndicated debt transaction leverages Sun King’s existing and future Kenyan customers’ payments for solar products to raise funding for further growth and expansion of Sun King Kenya.
Key information
- Sector:
- Renewable Energy
- Commitment (MNOK):
- 225.5
- Year:
- 2023
- Region:
- Africa
- Country:
- Kenya
- Domicile:
- Jersey
- Instrument:
- Loans
- Status:
- Active
- Mandate:
- Development
Additionality Sun King Financing Limited
This investment is particularly additional on the following ambitions:
- investing in the poorest countries
- investing in the most capital constrained markets
- investing in risky markets
- investing in sectors with high development needs
- investing in high risk markets
- Investing in high risk instruments
- mobilising private investors
- taking an active role in investments
