• Latest
  • Trending
d.light's Solar secures N10bn financing for Nigerian markets

d.light’s Solar secures N10bn financing for Nigerian markets

February 23, 2024
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

September 5, 2025
Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

September 5, 2025
Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

September 5, 2025
Paratus Group introduces first private mobile network using LTE and 5G in Namibia

Paratus Group introduces first private mobile network using LTE and 5G in Namibia

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

d.light’s Solar secures N10bn financing for Nigerian markets

Hauwa Ali by Hauwa Ali
February 23, 2024
146 4
0
d.light's Solar secures N10bn financing for Nigerian markets
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

A global company that provides solar-powered solutions, d.light, has announced a significant increase in its funding. 

The company has obtained $7.4 million (₦10 billion+) through securitized financing, a move that will help it grow its operations in Nigeria and reach more low-income households with its affordable and reliable products.

One of the main features of d.light’s offering is its Pay-Go personal finance service. 

This innovative model allows customers to access solar products on a pay-as-you-go basis without the need for upfront payments or collateral. Customers can make small, flexible payments over time, using mobile money or other digital platforms, until they own the product outright.

RelatedPosts

Wetility lands $27.8 million to boost solar access in South

SEC warns Nigerians against unregistered crypto platforms amid CBEX collapse

MTN South Sudan donates 100 solar units to rural communities 

This approach makes it easier for solar adoption, especially for low-income households who may not have access to formal credit or savings. It also creates a loyal customer base, as customers can upgrade to higher-end products or access other services as their needs and incomes grow.

Read also: D.Light secures $30million facility from Africa Trade and Development Bank

Chapel Hill Denham: A Leader in Local Currency Securitization

The securitized financing that d.light has obtained comes from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund, the first and only listed infrastructure debt fund in Africa. The fund provides long-term, local currency financing for infrastructure projects in Nigeria, with a focus on renewable energy, transportation, and social infrastructure.

The fund has partnered with African Frontier Capital, a specialized financial services firm that acts as the master and backup servicers for the transaction. Together, they have structured and sponsored the financing, which is the first of its kind in Nigeria.

By using local currency securitization, Chapel Hill Denham and African Frontier Capital are supporting the development of Nigeria’s renewable energy sector while also advancing the country’s sustainable development goals. Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham, said that the fund is “pioneering local currency securitisation for the financing of solar home systems and essential solar-powered household utilities in Nigeria.”

d.light: A Pioneer in Off-Grid Solar

d.light was founded in 2007 with a vision to provide clean, affordable, and accessible energy to people in developing countries. The company launched its first solar product in 2008 and has since expanded its presence across markets in Kenya, Uganda, Tanzania, and Nigeria. In 2022, d.light entered the Nigerian market, and with this new financing, it is set to scale its impact in the country.

d.light’s goal is to reach a billion people in developing countries by 2030 with its solar solutions. The company has already sold nearly 30 million products, affecting over 150 million people. Nick Imudia, CEO of d.light, said that the new financing will enable the company to provide more low-income Nigerian households with affordable solar-powered products.

d.light has also leveraged securitized finance to raise equity for off-grid solar in other sub-Saharan African countries, such as Kenya, Uganda, and Tanzania. The company has raised more than $500 million in securitized funding since 2020, and it recently paid back all of the lenders in its first securitized facility in full.

Okra Solar will provide solar energy to  76,000 Nigerians

A Bright Future for Nigeria

As Nigeria faces the challenges of energy poverty, climate change, and economic development, d.light’s expansion offers a ray of hope. With the support of Chapel Hill Denham and African Frontier Capital, the company is poised to make a lasting difference in the lives of millions of Nigerians by providing them with clean, affordable, and reliable solar power.

Tags: D.LightNigeriansolar
Hauwa Ali

Hauwa Ali

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.