Sun King Wins Citi-Backed Loan to Boost Kenya Solar Power Access

Sun King, the world’s largest off-grid solar company, has secured $156 million in financing backed by Citigroup Inc. and British International Investment to boost access to affordable solar power across Kenya.

Other lenders and agencies involved in the 20.1 billion shilling securitization include Stanbic Bank Kenya Ltd. a unit of Standard Bank Group, Absa Group Ltd., the Co-operative Bank of Kenya, KCB Bank Kenya Ltd. the Dutch development bank FMO, and Norfund, the Norwegian Investment Fund for developing countries.