d.light and Solar Frontier Capital announce $65 million financing facility for Kenya

Solar Frontier Capital Limited, a wholly owned subsidiary of African Frontier Capital (Mauritius) LLC, and d.light design Inc. (d.light) have jointly announced the establishment of a $65 million financing vehicle, Brighter Life Kenya 1 Limited (BLK1). BLK1 is an off-balance sheet financing vehicle dedicated to acquiring pay-as-you-go solar home systems from d.light’s Kenyan subsidiary, d.light Limited (d.light Kenya). BLK1 financing is expected to provide improved energy access to 1.2 million people in Kenya. BLK1 has been structured to provide d.light Kenya with local currency financing over a two-year commitment period and is intended as the first in a series of vehicles designed to provide d.light with continuous access to sustainable and affordable local currency receivable financing. A part of BLK1 is being financed by a $20 million senior debt commitment from the US International Development Finance Corporation.

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