One of the leading solar energy providers across Africa and Asia, Sun King, has successfully raised $260 million in Series D funding. The company plans to use this investment to broaden access to its off-grid energy solutions, catering to millions of underserved households in both regions.
Sun King, previously known as Greenlight Planet, has earmarked $100 million of this funding to enhance its pay-as-you-go (PAYGO) solar offerings. The company also aims to roll out larger energy systems designed to power high-demand appliances such as refrigerators. In addition, part of the funding will fuel Sun King’s expansion into new territories.
Founded in 2007 by T. Patrick Walsh and Anish Thakkar, Sun King has sold its solar products in over 40 countries, with Kenya being one of its early markets. Over the last decade, the company reports having impacted 18 million people in Kenya alone. Its reach extends to several other countries, including Zambia, Uganda, Tanzania, and Nigeria, where it claims to have tripled its customer base in the past year.
“This investment represents a pivotal moment for the global off-grid solar industry,” said Walsh, co-founder and CEO. “Over 15 years, we’ve brought solar energy to more than 82 million people, enabling children to study, entrepreneurs to thrive, and families to live without the dangers and costs of kerosene lamps. This funding enables us to further scale our technology and services to meet the needs of the next billion energy consumers.”
The funding round was led by BeyondNetZero, the climate-focused investment initiative of General Atlantic, with support from M&G Investments’ Catalyst and Arch Emerging Markets Partners. Prior to this round, Sun King had raised $170 million through equity and debt financing.Sub-Saharan Africa, where 75% of the population still lacks access to reliable electricity, represents a critical focus for the company. Countries like South Sudan, Chad, and Madagascar rank among the least electrified globally, making them ideal beneficiaries of clean energy solutions.
Sun King’s PAYGO model provides an accessible way for low-income households to afford solar systems, eliminating the need for significant upfront costs. By adopting this model, the company has distributed home energy systems to over 82 million users, offering a sustainable alternative to traditional grid connections.“Sun King is leading a transformation in how electricity is delivered to underserved populations in Africa and Asia,” said co-founder Anish Thakkar.
“For less than the cost of extending the electrical grid, entire solar systems can be installed in homes. This funding will help us scale this affordable and sustainable solution to the 1.8 billion people who need it today and the billions more who will need it in the future.”The investment will also allow Sun King to extend its impact, delivering critical renewable energy solutions and supporting the transition to a more sustainable future across Africa and Asia.
