Apis Partners awards Greenlight Planet with US$60 million in funding

Facebook
Twitter
LinkedIn
Reddit
Email
This influx of funding will allow Greenlight to boost the company’s growth across Africa — including Kenya, Uganda, Tanzania and Nigeria. Image:

Private equity asset manager Apis Partners and its partners will provide US$60 million in funding for Greenlight Planet — a provider of off-grid solar products and financing to underserved rural populations across Africa and Asia.

Existing shareholders Eight Roads Ventures and Bamboo Capital Partners also participated in the equity funding round with Apis, while Deutsche Bank, Global Partnerships, SunFunder, PG Impact Investments, responsAbility and SIMA Funds also served as debt investers.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

This influx of funding will allow Greenlight to boost the company’s growth across Africa — including Kenya, Uganda, Tanzania and Nigeria — while also strengthen its capital structure. Greenlight will also use the funding to invest in its technology-enabled platform with a focus on credit and financing infrastructure.

Patrick Walsh, co-founder and CEO of Greenlight Planet, said: “[Co-founder] Anish [Thakkar] and I founded Greenlight Planet to create life improving products for underserved customers and we are delighted to partner with Apis to help us realize that vision. Already, for less than the cost of a single electrical pole, we can provide a solar home system with enough energy to power a complete range of appliances needed by rural consumers. We are looking forward to expanding Greenlight Planet’s footprint across Africa, and to enable affordable, clean and reliable Sun King branded off-grid solar solutions for our distribution partners and end-customers.”

Greenlight Planet leads the largest direct-to-consumer pay-as-you-go solar financing business in the world — with the company’s 2,400 sales agents across five countries selling over 25,000 financed solar products to consumers each month.

Greenlight began selling affordable PV home systems just three years ago, and has sold nearly 600,000, posting a rate of 1,000 solar home systems per day.  

Read Next

Premium
August 1, 2025
Sustained private investment into UK solar is starting to produce results, at least with regard to the role of solar power in its energy mix.
August 1, 2025
Dutch pension fund APG has agreed to provide Octopus Australia with AU$1 billion to support its solar, wind, and BESS portfolio.
July 30, 2025
Spanish solar energy company Soltec has found an investor that will acquire 80% of the company’s shares in a restructuring move.
July 28, 2025
Solar developer Atlas Renewable Energy has secured BRL1 billion (US$179 million) in financing for a 579MW Brazilian solar PV complex.
July 28, 2025
Australia’s Clean Energy Finance Corporation (CEFC) has announced it has invested a record AU$4.7 billion (US$3.09 billion) in large-scale renewables, energy storage, and transmission projects during the 12-month period ending 30 June 2025.
July 23, 2025
Norwegian IPP Scatec has been selected for an 846MW solar cluster in the latest REIPPPP tender from South Africa.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK