d.light’s $176 Million Investment to Improve Solar Access

d.light, a prominent provider of affordable solar solutions, has secured $176 million in debt financing to expand its operations in Kenya, Tanzania, and Uganda. This funding, obtained through a securitization partnership with African Frontier Capital, will be used to offer consumer loans for solar and energy-efficient appliances.

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The expansion is anticipated to provide reliable and renewable energy to approximately 6 million people over the next three years. Ron Pfende, d.light's CFO, acknowledged the economic hardships many consumers face, stating, “The global economic climate has undoubtedly impacted people’s livelihoods.” To address these challenges, d.light has tailored its product offerings, allowing customers to purchase products individually through their PayGo financing option.

This strategy of unbundling solar packages into single products is designed to make solar energy more accessible to low-income households. By scaling up its PayGo consumer finance program, d.light aims to increase the availability of solar-powered products in communities with limited access to electricity.

Source: Empower Africa