Where’s the Capital for Home-Grown Companies? Why Energy Access Investments Need to Go Local

Of the 10 SHS companies that had received 84% of total global energy access investments between 2010 and the end of 2018, six operate in Kenya (among other countries): Greenlight Planet, d.light, M-KOPA, azuri, Mobisol and BBOXX, all of whose founders are citizens or dual-citizens of North American or European countries.

While large companies have paved the way for off-grid renewable energy markets, their dominance as targets of investment capital increases the risk that SDG 7 will remain out of reach – and parallels the troubling power dynamics of colonial history. The off-grid space has many technologies, business models and approaches that will require hundreds more domestic businesses, and a rapid pace of innovation throughout their value chains.

Read more: Next Billion



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