Mirova SunFunder Leads a $50M Co-Lending Investment To d.light On Its Journey To Impact 1 Billion Lives
In addition to the $238M off balance sheet facility and other financings closed in the last 6 months, this brings total capital raised for d.light in 2022 to over $300M.
“The investment underpins the catalytic role of the company in making available clean, reliable solar energy solutions through the pay-as-you-go business model that enables off-grid customers to pay for solar lighting products in affordable instalments using various mobile payment options. Significant amounts of capital are required to enable us to continue providing these financing plans for our customers as we grow. We are thankful for the continued support of our funding partners to enable us to create a brighter future for the families we serve as we continue on our journey to impact a billion lives,” said d.light CEO and Co-founder Ned Tozun.
“d.light and SunFunder have been partners for nearly 10 years. We have seen d.light transform over 125 million lives with their products and are happy to have been part of their journey of building a future of clean energy for all,” said Collins Kuindwa who has led the transaction for Mirova SunFunder. “We are delighted to have co-led this syndicate of proactive lenders who worked together with one common goal: to provide d.light with additional capital to transform the lives of 1 billion people with sustainable products by 2030.”
Since its founding, d.light has provided solar energy to more than 125 million people in 70 countries. Their extensive product line ranges from extremely affordable portable solar lanterns to solar home systems and appliances such as TVs, fans, and smartphones.
For further reading
Mirova announces the acquisition of SunFunder, acceleratating its ambition to become a global leader in impact investing
Mirova SunFunder, formed by the acquisition of SunFunder by Mirova in June 2022, has closed more than $175 million in debt financing to 58 solar borrowers in emerging markets, improving energy access for over 10 million people. Investments to date have been in the off-grid solar, mini-grid, productive use, C&I and telco ESCO sectors, in Africa, the Asia-Pacific, Middle East and Latin America. SunFunder won a UN Global Climate Action Award at COP26 in Glasgow in 2021. For more information visit www.sunfunder.com.
Mirova
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Natixis Investment Managers
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