Home
Resources
Follow portfolio news
...

Sun King secures $10M green bond financing

Published on
7/12/2022
Amended on
23/3/2026
0
minute(s)
Odyssey 2021
Sun King logo
Proparco invests $10 million in a green bond to finance Sun King in Africa. Symbiotics managed the financing for this growing initiative. Together, they seek to improve access to solar energy in Africa, where millions of people still lack electricity.
By
Damien Hélène
Damien Hélène
Sun King secures $10M green bond financing
This article has been automatically translated. Please excuse any inaccuracies or translation errors.
Dieser Artikel wurde automatisch übersetzt. Bitte entschuldigen Sie etwaige Ungenauigkeiten oder Übersetzungsfehler.
Questo articolo è stato tradotto automaticamente. Ci scusiamo per eventuali inesattezze o errori di traduzione.

Proparco, a subsidiary ofAgence Française de Développement (AFD), is subscribing to a $10 million green bond to finance Sun King 's activities in sub-Saharan Africa (distribution and installation of solar home systems, solar lanterns and other appliances powered exclusively by solar energy).

The green bond was issued by Swiss investment company Symbiotics, which managed the financing via a platform specializing in green bonds, fast-growing products that are part of the financialization of sustainable development.

"Together, we will work effectively to improve access to clean energy in Africa. As emphasized at COP27, this remains an absolute priority for the continent, where 570 million people still live without proper access to electricity", says Françoise Lombard, Proparco's Managing Director.

Sun King has already distributed its products to 80 million customers worldwide, mainly in Asia and sub-Saharan Africa. Its solar kits have already replaced 7.3 million kerosene lanterns, avoiding the emission of 22.9 million tonnes of CO2 equivalent.

Other episodes on this topic

Explore our content collections, which bring together different formats around a single subject/issue/theme.
No articles in this category yet.
No items found.
Europe
Rest of the world
Technology / Software
Consumption
Services
Welcome to Altaroc
To provide you with a tailored experience, we invite you to complete your profile.
Your profile
country of tax residence
Select
choosenCountry
Preferred language
Select
choosenLang
Your investor profile
Financial intermediary or Professional investor
Financial advisors, wealth management advisors, private bankers, or any other investment service providers.
Qualified Investor or Altaroc Investor
Experienced Investor or Altaroc Investor
Private investors who have already invested in Altaroc who have a minimum investment capacity of €100,000.
Private investors who have already invested in Altaroc who have a minimum investment capacity of €250,000.
Inexperienced investor
Individual investors with an investment capacity of less than €100,000.
Individual investors with an investment capacity of less than €250,000.
Institutional investor
Pension funds, retirement funds, asset management firms, and single-family offices.
Scroll down to accept General Terms and Conditions
The webpage you are trying to access is not available in your country.