Sun King has published its 2025 Sustainable Financing Allocation and Impact Report, showing how innovative financing structures are accelerating access to energy and essential technologies across Africa.

The report highlights a shift in how the company funds its growth. Since launching our Sustainable Financing Framework in 2023, roughly one in three Sun King products deployed were backed by sustainable financing instruments, a significant increase from just a few years prior when such financing played a minimal role.

Sun King, the world’s largest off-grid solar company, provides a range of affordable solar kits and a broader suite of technologies, including solar-powered fans, clean cooking equipment, and smartphones. Most customers access these products through ‘pay-as-you-go’ financing, making access to large-scale, affordable debt capital central to the company’s model.

“The fact that one in three Sun King products deployed were supported by sustainable finance since 2023 marks a fundamental shift in how off-grid solar is funded. It shows the sector is now capable of attracting mainstream capital at scale; a turning point for energy access. As we grow, these structures are helping us reach more households and businesses, faster, while strengthening capital markets across Africa.” Anish Thakkar, Co-Founder, Sun King

To support this, Sun King has expanded its use of established instruments, such as bonds, while introducing more complex structures tailored to African markets. These include local-currency securitisations, such as a landmark transaction in Kenya, as well as new debt facilities in markets like Nigeria. These approaches are designed to mobilise international and domestic capital, while reducing currency risk and improving affordability for end users.

The impact is visible in deployment figures. Sun King reports that it installed approximately 330,000 solar products per month by the end of 2025, up from 100,000 in 2020 and just 10,000 in 2017. The scaling of sustainable finance programmes has helped push forward growth.

“Sun King’s Sustainable Financing Programme is unlocking commercial capital for off-grid solar and Africa’s green transition. As our financing toolkit grows, so does our ability to deploy at scale and mobilise the capital needed to match the speed of demand across the continent.” Krishna Swaproop, Chief Financial Officer, Sun King

The report also outlines how Sun King’s sustainable financing activities align with internationally recognised Social and Green Bond and Loan Principles, reinforcing its positioning within global sustainable finance markets.

As development finance institutions and private investors increasingly look for scalable climate and inclusion opportunities, Sun King’s model demonstrates how structured finance can be used to channel capital into distributed energy — and, in doing so, expand access to electricity for underserved households and businesses.

The full Allocation and Impact Report is available here. Along with a second-party opinion from Sustainalytics and Sun King’s Sustainable Financing Framework here.