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The U.
S.
government's development finance institution Overseas Private Investment Corporation (OPIC) has committed $25 million in financing to a fund managed by SunFunder, an off-grid solar company that will provide loans
to companies developing off-grid solar products and solutions in sub-Saharan Africa and Asia.
SunFunder predicts that its Solar Transition Fund will provide personal loans to more than 50 off-grid solar companies, which in turn will give more than 3 million people access to clean and affordable energy
.
OPIC's commitment includes senior and subordinate payments, which will help facilitate other impact-focused investors to achieve a target fund size
of $85 million.
OPIC's President and CEO said, "OPIC's support of this project drives the priorities
of multiple agencies.
In addition to supporting projects that improve the lives of the poor in developing countries, OPIC is also supporting women-owned and female-led businesses
such as SunFunder.
”
SunFunder co-founder said, "OPIC's innovative involvement in the senior and secondary segments has a strong catalytic effect on the energy access industry
.
Their commitment is key to unlocking private capital into the SET fund, which will allow SunFunder to more quickly meet the growing debt capital needs of solar companies, which include commercial and industrial projects
that require longer-term funding over five to seven years.
”
:/, please indicate the source for reprinting)
The U.
S.
government's development finance institution Overseas Private Investment Corporation (OPIC) has committed $25 million in financing to a fund managed by SunFunder, an off-grid solar company that will provide loans
to companies developing off-grid solar products and solutions in sub-Saharan Africa and Asia.
SunFunder predicts that its Solar Transition Fund will provide personal loans to more than 50 off-grid solar companies, which in turn will give more than 3 million people access to clean and affordable energy
.
OPIC's commitment includes senior and subordinate payments, which will help facilitate other impact-focused investors to achieve a target fund size
of $85 million.
OPIC's President and CEO said, "OPIC's support of this project drives the priorities
of multiple agencies.
In addition to supporting projects that improve the lives of the poor in developing countries, OPIC is also supporting women-owned and female-led businesses
such as SunFunder.
”
SunFunder co-founder said, "OPIC's innovative involvement in the senior and secondary segments has a strong catalytic effect on the energy access industry
.
Their commitment is key to unlocking private capital into the SET fund, which will allow SunFunder to more quickly meet the growing debt capital needs of solar companies, which include commercial and industrial projects
that require longer-term funding over five to seven years.
”
:/, please indicate the source for reprinting)
/
