d.light Expands Solar Financing To USD 842 M To Power Off-Grid Access In Africa

Off-grid solar pioneer d.light has expanded its securitised financing capacity to over USD 842 M, a major boost to its mission of bringing clean energy to underserved communities in Africa.

The latest expansion extends the company’s Brighter Life by d.light (BLd) receivables facility by over USD 300 M. The funding enables d.light to scale its PayGo solar product offering across Kenya, Uganda, and Tanzania, aiming to reach 10 million people over the next two years.

Securitised finance, a method of pooling and selling loan receivables to investors, has proven crucial to d.light’s growth strategy. Since 2020, the company has structured five such facilities across Kenya, Nigeria, Tanzania, and Uganda, channelling capital into affordable energy access for low-income households.

“This marks a pivotal moment in our journey,” said CEO Nedjip Tozun. “Securitisation has unlocked affordability, helping us scale and reach more homes with clean energy.”

d.light’s approach is gaining traction with institutional backers. The latest facility was arranged by African Frontier Capital, with funding from Mirova, a sustainability-focused investment firm. Both partners hailed the deal as proof that innovative financing can drive impact at scale.

The announcement follows d.light’s milestone earlier this year, when it repaid a previous USD 110 M facility ahead of schedule.

Founded in 2007, d.light claims it’s sold over 40 million products, from solar lanterns to TVs, impacting more than 200 million lives to date.