World’s largest off-grid solar energy company signs MOU with Ethiopia Investment Commission to fast-track market entry and bring clean electricity to millions

Sun King, the world’s largest off-grid solar energy company, today announced plans to invest up to $150 million in Ethiopia over the next five years, formalised through a Memorandum of Understanding (MOU) signed with the Ethiopian Investment Commission (EIC). Signed at the EIC’s Invest in Ethiopia High-Level Business Forum, the agreement marks Sun King’s formal entry into one of Africa’s most significant untapped solar markets. Operations are set to begin imminently, with both parties working to establish the conditions needed to rapidly scale energy access.

Ethiopia is a remarkable energy story. As the home of the Grand Ethiopian Renaissance Dam, the country’s national grid is powered almost entirely by renewable energy and is already exporting clean power to neighbouring nations. Yet, despite this achievement, tens of millions of Ethiopians — in a country of more than 120 million people — remain without reliable access to electricity, particularly in rural and peri-urban communities beyond the reach of the national grid. Distributed solar, the type of solution Sun King specialises in, has so far been unable to reach its full potential in Ethiopia. That is what Sun King intends to change. Sun King’s entry into Ethiopia also reflects growing investor confidence in the government’s reform agenda, with the EIC playing a central role in facilitating this transition and supporting investors through the process.

Under the terms of the MOU, the EIC has committed to provide comprehensive facilitation and fast-track support for Sun King to establish operations in Ethiopia. This includes support to secure investment permits, business licences, and direct introductions to key government and private sector stakeholders. Sun King will establish a local subsidiary, building a team of business, operations, and engineering professionals in Addis Ababa alongside a network of locally grounded agents who will deploy and maintain solar solutions across rural and underserved communities. The company’s financing and distribution approach will be tailored to the Ethiopian context, ensuring both reach and affordability.

The planned investment of up to $150 million by 2030 will fund the large-scale deployment of solar home systems and solar inverter systems to reach more than 2 million households and businesses. This effort directly supports Ethiopia’s Mission 300 Compact and National Electrification Plan Sun King’s Pay-As-You-Go (PAYG) model, which enables customers to purchase solar systems via affordable daily or weekly instalments through mobile money will be central to making clean energy accessible to those who need it most. Sun King is committed to working closely with the Ethiopian government to create the enabling regulatory environment required for this investment to reach its full potential.

Kota Kojima, Chief Operating Officer, Sun King, said: 

“Ethiopia is a country of extraordinary energy ambition, and we are proud to be part of its next chapter. With the support of the Ethiopian Investment Commission and the Ethiopian government, we are moving with urgency to build our team, establish our network, and bring affordable solar solutions to the millions of Ethiopians who deserve access to reliable electricity. We are deeply grateful for the partnership and confidence of the Ethiopian government and look forward to playing a meaningful role in Ethiopia’s energy future.”

Dr. Zeleke Temesgen, Commissioner, Ethiopian Investment Commission said:

“We warmly welcome Sun King’s commitment to Ethiopia and are proud to partner with the world’s leading off-grid solar company as we accelerate investment in our energy sector. This MOU reflects Ethiopia’s openness to transformative international investment and our shared determination to expand energy access for all Ethiopians. We look forward to working hand-in-hand with Sun King as they establish operations and begin delivering clean energy to communities across the country.”

Sun King’s entry into Ethiopia is part of its broader ambition to bring clean, affordable electricity to 200 million people by 2030, deploying over 50 million solar kits across Africa and adding 3.8 GW of new solar capacity. At present, the company operates across 14 countries in Africa and Asia, deploying more than 350,000 solar kits every month, up from 100,000 in 2022 and 10,000 in 2017. Ethiopia, with its scale, its ambition, and its need, represents one of the most compelling markets in this global expansion.

Ethiopia’s participation in Mission 300 — the World Bank and African Development Bank initiative to connect 300 million people across Africa to electricity by 2030 — sets a bold national imperative that distributed solar is uniquely positioned to help achieve. Sun King stands ready to be a committed and capable partner in that mission, bringing its proven technology, PAYG financing model, and deep experience across Africa to bear in Ethiopia without delay.