Off-grid photo voltaic supplier Solar King raises USD 260m

April 28 (Renewables Now) – Off-grid photo voltaic merchandise supplier Solar King, beforehand referred to as Greenlight Planet, on Wednesday stated it has raised USD 260 million (EUR 248m) in sequence D funding to carry electrical energy to extra properties throughout Africa and Asia.

The funding spherical was led by BeyondNetZero, the local weather investing enterprise of development fairness agency Normal Atlantic, along with M&G Investments’ Catalyst workforce and Arch Rising Markets Companions.

Solar King says it runs the world’s largest direct-to-consumer, pay-as-you-go (PAYG) photo voltaic distribution community, which is including 150,000 shoppers per thirty days throughout seven international locations. The corporate presents photo voltaic house programs that energy lights, cellphones, radios and bigger home home equipment.

The brand new financing can be used for continued geographical enlargement, in addition to product-line enlargement, together with bigger photo voltaic programs with alternating present (AC)-electricity inverters that may energy greater home equipment like fridges, and new merchandise akin to cellphones.

Arrange in 2007, the corporate says it has to this point offered photo voltaic vitality to greater than 82 million folks throughout 40 international locations.

(USD 1 = EUR 0.954)

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