- Symbiotics Investment has arranged a $10 million Green Bond for off-grid solar systems.
- Sun King has helped replace 7.3 million kerosene lanterns.
Symbiotics Investment has arranged a $10 million Green Bond for Proparco to on-lend to Greenlight Planet for their off-grid solar systems sales in Sub-Sahara Africa.
The MSME Bonds SA Platform has issued the Bond. Greenlight Planet, now officially known as Sun King, provides access to renewable energy through its off-grid solar lanterns and solar home systems.
Sun King Global Chief Financial Officer Krishna Swaroop said, “This Green Bond arranged by Symbiotics Investments will extend affordable off-grid solar financing to underserved communities across Sub-Saharan Africa, helping them to electrify their homes and turn off the kerosene lamps.”
Sun King offers PayGo credit facilities to unbanked and low-income populations, providing access to credit facilities to around 2.67 million people. So far, it has helped to replace 7.3 million kerosene lanterns and prevented 22.9 million tons of CO2 from being emitted.