Landmark fundraising deals by two of Africa’s largest off-grid solar companies are raising hopes that private capital markets could become a major source of funding to help bring electricity to millions of homes lacking access to reliable power.
A $50 million green bond issued by affordable energy company D.light in June, and $286 million in securitized debt by rival Sun King mid-2025 are testing whether institutional investors will back a pay-as-you-go business model on a commercial scale.
