Symbiotics, a leading market access platform for impact investing, has arranged two Green Bonds for a total of $17 million for Sun King (former Greenlight Planet), one of the largest solar companies in Africa and Asia, to deliver off-grid energy technologies to households across the two continents.
With the issuance of these Green Bonds, Sun King showcases its ability to align with the accepted International Capital Market Association Green Bond Principles or Sustainability Bond Guidelines (ICMA GBP), increasing the attraction of international financiers.
The green projects that will be financed belong to the renewable energy category, in particular solar kits.
“With the issuance of these Green Bonds, we are excited to contribute to the transformation of the clean energy sector and to continue supporting African and Asian households in the fight against climate change,” said Duncan Frayne, Symbiotics Regional Director for Sub-Saharan Africa Markets.
“The issuance of these Green Bonds is a testament of Sun King’s successful journey towards delivering sustainable and affordable energy solutions for underserved communities. We thank Symbiotics and all the investors for their critical contribution towards a global transformation in the way we provide electricity to consumers,” stated Krishna Swaroop, Sun King Global Chief Financial Officer.