M-KOPA secures US$80 million in commercial debt funding to finance off-grid PV sites

Facebook
Twitter
LinkedIn
Reddit
Email
M-KOPA customers have benefitted from over 62.5 million hours of kerosene-free lighting per month, saving over 600,000 tonnes of CO2 over four years. Image: Ninara / Flickr

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.

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

So far, M-KOPA has connected over 500,000 homes in East Africa to affordable, safe and clean energy. These off-grid solar systems allow customers access to lighting, phone charging, radio and TV on daily mobile money payment plans that are less than the typical cost of kerosene fuel.

Nick O’Donohoe, chief executive officer, CDC, said: “M-KOPA is a remarkable company that is transforming lives in East Africa by providing affordable energy, financial inclusion and essential products for low-income households. It empowers its customers economically, improves people’s health and reduces greenhouse gas emissions.

“Our equity and debt investments are aimed at helping the company build on its success and reach many more of the 600 million people across Africa who currently live without electricity.”

Read Next

January 29, 2025
JUWI Renewable Energies has announced plans to build three new solar projects, with a combined capacity of 340MW, in South Africa.
January 21, 2025
Chinese manufacturer JA Solar will supply n-type modules for the 1GW Abydos Phase II solar-plus-storage project in Egypt.
Premium
January 20, 2025
Mini-grids have been a feature of the global electricity system for years, a starting point for larger distribution and transmission networks.
January 16, 2025
The Africa Solar Industry Association’s 2025 market outlook has recorded a 2.5GW increase in PV installations in 2024.
January 3, 2025
PV Tech spoke to Bboxx chief commercial officer Amaury Fastenakels about the company’s work in 2024, and what it can expect in 2025.
December 31, 2024
Tunisia has announced the winners of tenders for over 500MW of solar capacity, including Qair International and Voltalia.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 17, 2025
London, UK
Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany