Project detail - D.LIGHT DESIGN INC

D.LIGHT DESIGN INC

Status: Approved 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 a leading off-grid energy provider that offers a range of solutions to lower income households, from small solar-lanterns to pay-as-you-go (“PAYGO”) solar home systems. d.light is headquartered in Nairobi and mostly sells and finances their products in East Africa and India, thereby providing a sustainable alternative to polluting kerosene lanterns and other fossil fuel based alternative energy sources.

What is our funding objective?

FMO is investing up to USD 2.1m. Funding is to provide the company with the necessary capital to allow the company’s further growth and further consolidate its position as market leader.

Why do we fund this investment?

The project has a high developmental impact as d.light provides solar solutions to lower income households in Africa and South-Asia, thereby positively impacting electrification, environment, health and employment. Financing renewable energy production is in the core of FMO's strategy.

What is the Environmental and Social categorization rationale?

The investment is classified as E&S category B due to minimal negative impact on the environment. B category is as d.light’ s activities come with potential limited adverse E&S risks – mainly associated with waste management (battery waste), and labor conditions (commission based agents). Hence PS 2, PS 1 and PS 3 are applicable.

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7/30/2021 USD 0.61 MLN
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Region
Africa
Country
Kenya
Sector
Energy
Effective date
7/30/2021
Total FMO financing
USD 1.47 MLN
Funding
AEF-I
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B