Swedfund Finances Off-Grid Solar Solutions Provider in Africa

Swedfund is financing the solar provider d.light for continued expansion in Africa. In total, d.light raise US$41 million from a consortium of several financiers led by Inspired Evolution. Consortium partners include Swedfund as well as the Norwegian and Dutch development finance institutions, Norfund and FMO.

d.light was founded in 2007 and manufactures and distributes solar lighting and power products designed to serve people without access to reliable electricity. Through five distribution hubs in East Africa, West Africa, India, Southeast Asia and the United States, d.lights impacted over 88 million lives with its products. The company's goal is to reach 100 million people by 2020.

Read more in the press release below.