Browsing: Acumen Fund

d.light solar financing

Acumen’s Hardest-to-Reach initiative powers d.light with $5M funding

Investing
  • With Acumen’s boost, d.light will speed up operations in Uganda, where about 2M people will access electricity for the first time.
  • By selling customer receivables to Brighter Life by d.light (BLd) upfront, d.light subsidiaries now have immediate cash flow, enabling them to scale at speed.
  • This funding model not only supports financial sustainability but also mitigates currency risks by conducting transactions in local currencies.

For solar-power equipment provider d.light, the journey to lighting homes across East Africa with reliable green energy is fast gaining momentum.

In the latest move, d.light has received a $5 million investment from Acumen’s Hardest-to-Reach (H2R) initiative. This funding is poised to enhance d.light’s presence in Uganda, Kenya and Tanzania.

Acumen’s investment in d.light’s multi-country receivables financing facility, Brighter Life by d.light (BLd), aims to expand energy access for underserved communities in East Africa, creating a huge impact on millions of lives.

Acumen’s H2R is a …

Acumen launches $70 million solar fund KawiSafi ventures

Rwanda

Acumen announces nearly $70 Million close of for-profit off-grid energy fund through its subsidiary Acumen Capital Partners

Acumen, the nonprofit that invests philanthropic capital in companies and leaders tackling poverty, today announced the approximately $70 million close of for-profit fund, KawiSafi Ventures, through Acumen Capital Partners. After investing $22 million of patient, philanthropic capital across the off-grid ecosystem and impacting 81 million lives, Acumen saw an opportunity to drive energy access for millions of low-income people in East Africa and scale the clean energy sector.

In sub-Saharan Africa, more than 600 million people currently live without electricity and spend $17 billion a year on dirty, inefficient energy. KawiSafi aims to deliver clean, affordable energy to 10 million people, at least half of whom live in poverty, and displace more than one million tons of carbon dioxide in the next 10 years, to address energy poverty and help avert the current …