Sun King has announced the successful closure of a pioneering securitisation transaction in Kenya aimed to broaden access to finance for off-grid Solar in Kenya.
Arranged by Citi and supported by leading development finance institutions and commercial lenders from six countries across the globe, the investment paves the way for future African securitisation deals and diversifies funding for Kenya’s off-grid solar energy sector.
“Over one billion people live off the reliable electric grid. This number is projected to rise. This securitisation could be key to unlocking the extensive capital needed to fund solar energy initiatives at the scale the climate crisis requires. We applaud Citi for orchestrating this innovative transaction. These trailblazing financial mechanisms can convert the global challenges of energy access, social development and climate action into compelling investment opportunities.” Commented Sun King’s Co-Founder, Anish Thakkar.
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