Project detail - D.LIGHT DESIGN INC

D.LIGHT DESIGN INC

Status: Completed investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

d.light is the market leader in distributed solar power for the 2.3Bn people in the developing world without reliable electricity. D.light’s products are available in over 70 countries worldwide.

What is our funding objective?

The aim of the project is to electrify 300 off-grid private clinics across rural Kenya. These off-grid clinics will gain access to electricity and their patients will gain access to higher levels of care enabled by this electricity access. Sales to these clinics will also provide much-needed revenue for the client that will allow them to reduce the risk of layoffs in these difficult times. The project will improve the quality of healthcare to an estimated 480,000 vulnerable citizens (an average 1600 people are covered per rural clinic as per World Resources Institute). d.light employees are secondary beneficiaries, as they would be assured job and income security thanks to the continuity of d.light operations.

Why do we fund this investment?

The project focuses on solar energy (core business of d.light) for hospitals. It’s essential that hospitals have access to energy (in general) and even more so during this pandemic to be able to help their patients well. Large part of the hospitals are unelectrified or have poor energy access. Hospitals (especially rural) typically lack means to pay for d.light’s products, especially during this crisis. By supporting this project FMO has direct impact to help in the pandemic and through a clean energy solution which is core to FMO’s mandate.

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Region
Africa
Country
Kenya
Sector
Energy
Effective date
8/6/2020
End date
1/27/2022
Total FMO financing
EUR 0.10 MLN
Funding
AEF-I