Solar kits firm d.light Design raises US11.9m from Norfund to power Kenya expansion

KENYA – Solar kits company d.light, has raised 11.9 million to power its expansion in Kenya as it eyes a bigger share of the solar energy market. Delhi based d.light design, which provides affordable lighting and power solutions raised the funds from Norfund, the Norwegian Investment Fund for Developing Countries, through its capital raising vehicle Brighter Life Kenya 1 Limited (BLK1). “BLK1 has been structured to provide d.light Kenya with local currency financing equivalent of US$127 million in face value of receivables purchased over a two-year commitment period and is…

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Brighter Life Kenya gets US$65m financing from SFC and d.light

KENYA – Solar Frontier Capital Limited (SFC), a wholly-owned susidiay of African Frontier Capital (AFC) and d.light design Inc., a global innovator of solar energy products, have jointly announced the establishment of a KSh 6.9 billion (US$65 million) financing vehicle, Brighter Life Kenya 1 Limited (BLK1).    The BLK1 is an off-balance sheet financing vehicle, newly incoporated in Jersey, which will be dedicated to acquiring pay-as-you-go (PAYGO) Solar Home System (SHS) accounts receivables from d.light’s Kenyan subsidiary, d.light Limited to provide the company with flexible, working capital to finance its continued…

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Shell acquires minority stake in solar energy company d.light

AFRICA – d.light, a leading innovator of solar energy products, announced that Shell’s New Energies business has acquired a minority stake in the company, buying out several early-stage investors as they move on to new projects, underscoring the sector’s increasing commercial viability. Commenting on the investment, d.light co-founder and CEO Ned Tozun said, “We are excited to have Shell join d.light as a shareholder. Shell’s record of leading important, transformative changes within the energy sector, and their alignment with our mission, makes them an ideal partner for d.light as we…

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