Sun King, the world’s largest off-grid solar energy company serving millions across Africa and Asia, announced $40 million in equity financing from Lightrock, a global sustainable investment platform. The funding will advance Sun King’s product pipeline and expand the installation and service infrastructure supporting underserved households and businesses. “Lightrock brings a deep understanding of our customers’ needs and a clear commitment to expanding access to energy,” said T. Patrick Walsh, CEO and Co-Founder of Sun King.
Sun King has built an integrated distributed energy utility model over 18 years, combining solar generation, energy-efficient appliances, installation, and consumer financing. The company’s portfolio includes hyper-affordable solar kits for basic lighting and phone charging, as well as multi-kilowatt inverter systems powering large homes, clinics, farms, and commercial facilities. Since 2007, Sun King has delivered 29 million solar products; 67% of customers previously lacked electricity access. A pay-as-you-go model enables purchases over 12–24 months for as little as $0.15–$0.20 per day, supported by $1.4 billion in financing that has reduced reliance on kerosene and diesel.
Sun King is extending its model into essential energy-efficient appliances such as fans, smartphones, and refrigerators to enhance connectivity, comfort, cold storage, and climate resilience. Affordability is supported through pay-as-you-go financing and a field network of more than 470 shops and 35,000 agents providing sales, installation, servicing, and customer support. “Sun King has grown from delivering 10,000 solar kits a month in 2017 to more than 330,000 each month today. We are working to expand to one million solar kits each month by 2030 to meet the basic energy needs of, at least, 200 million people,” said Walsh.
Sun King aims to deploy over 50 million additional solar kits by 2030, reaching 200 million people with clean energy. Expansion plans include growing the retail network from 470 shops to approximately 1,650 and doubling the agent workforce from 45,000 to roughly 90,000 across Africa. Operations currently span 11 African countries, with deeper market penetration and entry into new high-need regions planned. “Sun King exemplifies the type of proven, scalable solution we seek to support at Lightrock,” said Arul Thomas, Partner at Lightrock.
New capital will accelerate product innovation, including higher-capacity and more cost-effective solar systems powered by advancements in solar, electronics, and battery science. Sun King plans to deploy 3.8 GW of new decentralised solar capacity by 2030 — comparable to three large African coal plants — delivered directly to households and businesses without grid dependence. Additional solutions under development include pay-as-you-go clean-cooking technologies, smartphones, and productive-use appliances for refrigeration and milling, supporting improved health, stronger food systems, and increased household and small-business incomes. Ekta Partners acted as exclusive financial advisor for the transaction.