Greenlight Planet Kenya secured 75 million U.S. dollars to expand in Kenya

British investor CDC Group is partnering with Norfund, Standard Bank and Citi to open a $75 million line of credit for Greenlight Planet Kenya, the subsidiary of Greenlight Planet. The company will use the local currency financing to accelerate the deployment of its solar home systems in Kenya.

In arranging this line of credit, U.S. financial firm Citi acted as the “sole coordinator” of the transaction, while Standard Bank acted as the sustainability coordinator and executed the currency conversion to facilitate repayment of the parent loan, which contributed to the financing in Kenyan shillings.

Read more: Afrik21