Sun King to broaden sustainable power gain access to in Africa and Asia after US$ 260m financing round
- Off-grid solar professional Sun King has actually increased US$ 260 million in a Series D funding round intended to expand international accessibility to affordable solar power across Africa and also Asia.
Alongside a scheduled growth, with US$ 100 million allocated to that purpose, the service provider will certainly also purchase expanding its product line, consisting of bigger solar systems outfitted with AC inverters.
The Series D round was led by equity company BeyondNetZero, the climate financial investment venture of General Atlantic, in addition to involvement from M&G Investments' Catalyst and also Arch Emerging Markets Partners.
T. Patrick Walsh, co-founder as well as CEO of Sun King, said: "This investment in Sun King marks an extraordinary inflection point for the worldwide off-grid solar industry.
" This site investment permits us to proceed scaling our innovation, service, and also financing capabilities so we can meet the requirements of the following billion power consumers."
Last month, Wood Mackenzie released a report that outlined the electrification of the Sub-Saharan Africa would certainly call for an investment of US$ 350 billion by 2030 with a concentrate on decentralised bottom-up, solar-and-storage grids.