SunFunder Leads $6 Million Financing Facility for Solarnow
Solarnow announced the arrangement of a syndication lead by SunFunder with the participation of responsAbility Investments AG and Oikocredit.
As Ryan Levinson, SunFunder CEO, puts it: “Our customers need more scalable, less time-consuming financing options so they can focus on their core business delivering solar energy. By leading syndications, SunFunder offers solar companies larger ticket size loans with less hassle, and gives investors a route into the market.”
Willem Nolens, SolarNow CEO, said. “We are thrilled to continue building our fruitful relationship with SunFunder. So far, it has allowed us to focus entirely on our growth and profitability reaching more than 25,000 clients. This new step of our partnership will enable us to continue tackling the massive unmet market opportunity in East Africa of providing affordable energy to millions of off-grid households, and to reach 70% of Uganda’s off-grid population with solar home systems.”
“We are delighted to build on our long-standing relationship with SolarNow and bring in additional investors,” Ryan Levinson added.
Maite Pina, Investment Officer at Oikocredit, said, “We see SolarNow as a company that prioritises its customers in order to meet their needs with the right solar products and services.” Speaking on behalf of responsAbility, Stefan Issler, Head Direct Investments, Energy Debt Financing, underlined: “Access to energy is a core topic when it comes to developing economies.”
Image Source: SolarNow