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Solar power to rural areas

KLP Norfund Invest AS has signed an agreement to invest d.light - the leading provider of off-grid solar solutions

 

Providing off-grid solar solutions

d.light is the leading provider of off-grid solar solutions and has commanding market share in emerging markets, with a focus on Africa and Asia. The company has impacted over 65 million people through its sales of more than 15 million solar light and power products in 62 countries. d.light continues to sell hundreds of thousands of units per month, while maintaining excellent quality at scale.

Access to energy is a key for development

“Norfund invests in profitable and sustainable enterprises that contribute to economic growth and poverty alleviation. Access to energy is a key input for development, and we believe energy mix for the foreseeable future also will include off grid solutions, in particular for rural households and businesses. As the leading provider of off-grid solutions in emerging markets, d.light is a good addition to our energy portfolio, mostly consisting of utility scale projects connected to the grid,” said Mark Davis, Head of Clean Energy investments of Norfund.

“In countries where energy access is low for the vast majority, solar has the ability to impact people living there in a multitude of ways. We are proud to support d.light’s work to bring solar-powered solutions to rural households in these countries.”

The $5 million equity investment in d.light is done by the co-investment vehicle, KLP Norfund Investments. KLP is Norway’s largest pension fund manager and participates with funding in this vehicle.

Download press release here