News
30 August 2018
FMO leads $15m finance for Kingo's off grid solar services in Guatemala
In:
Renewable energy
Region:
Americas
Dutch development bank FMO is the lead arranger in a $15.5 million financing package to boost solar panel group Solesco Centroamérica's (Kingo) off grid services in Guatemala.
The senior loan will consist of $5 million from FMO, $5 million from social impact investor Oikocredit, and $5.5 million subordinated loan from the Infrastructure Development Fund, currently managed by FMO. The tenor of the loan is seven years. Kingo borrowed the money in its local currency, the Guatemalan quetzal.
The loans will be used for organisational growth and the acquisition and installation of new solar rooftop panels in Guatemala.
