Investor group partners for Sustainable Finance Facility for Greenlight Planet

Image Credit - Greenlight Planet

Standard Bank, Citi, CDC Group, and Norfund are partnering to provide Greenlight Planet Kenya with a Kenya shilling denominated sustainable financing facility. Worth the equivalent of $75 million, the facility is one of the first sustainability-linked deals in Kenya and one of the largest in the region. The deal integrates three sustainability-linked key performance indicators to the funding which cover social and environmental metrics. These include the number of people benefiting from Greenlight’s energy financing, the cumulative avoidance of CO2 emissions, and making sure the company maintains a gender-balanced management team.

Greenlight will use the financing to expand access to its products and services in communities living off the grid across Kenya and more broadly across the world. The firm has a goal of reaching an additional 10 million households globally within the next 5 years.

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