Off-grid solar company M-KOPA Solar has secured US$80 million in committed debt financing, which will be used over the next three years to provide financing for pay-as-you-go PV projects in one million homes in Africa.
A number of lenders participated in the debt funding, including CDC (US$20 million), Stanbic Bank (US$9 million), FMO (US$13 million) and Norfund (US$13 million). M-KOPA claims that it is the largest commercial debt facility to date in the pay-as-you-go, off-grid energy market.
So far, M-KOPA has connected over 500,000 homes in…
See the entire article.