Lenders SunFunder, Oikocredit and responsAbility Investments all provided US$2 million each in an investment that is structured as a bankruptcy-remote special purpose vehicle designed for deploying PV systems through pay-as-you-go (PAYG) and solar leasing models in developing countries.

This is SolarNow’s second structured asset finance instrument (SAFI) with SunFunder and their fifth transaction together.

Willem Nolens, CEO at SolarNow, said their partnership with SunFunder has enabled them to reach 25,000 clients. This new investment is seen a huge opportunity to expand further into the East African market providing off-grid households with solar home systems.

Worldwide 1.2 billion people are without access to electricity and a further 1 billion have unreliable access. SolarNow perceive solar power as an economic solution for off-grid areas in developing countries but say solar companies struggle to access mainstream finance to develop and deliver projects.

Stefan Issler, head direct investments, energy debt financing at responsAbility, said: “By channelling financing to companies like SolarNow, we actively develop markets and infrastructure, thereby addressing the basic needs of broad sections of the population.”

UPCOMING EVENT

PV ModuleTech USA 2025

17 June 2025

Napa, USA

PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

UPCOMING EVENT

Solar & Storage Finance USA 2025

21 October 2025

New York, USA

Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

UPCOMING EVENT

PV CellTech Europe 2026

10 March 2026

Frankfurt, Germany

The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

africa, east africa, off-grid, oikocredit, payg, responsability investment, safi, solar, solar pv, solarnow, sunfunder, uganda

JinkoSolar posts US$181 million losses in Q1 25, citing low prices and US tariffs

April 29, 2025

Chinese solar manufacturing giant JinkoSolar posted net losses of US$181.7 million in the first quarter of 2025 amid low product prices and “changes in international trade policies.”