FMO and consortium partners invest $41m in d.light

Dutch development FMO is part of a consortium supporting d.light with $41 million in equity funding, energy expertise and networks. 

The support will enable the distributed solar provider to expand and accelerate its growth rate as well as provide energy access to millions of people in Africa. The consortium is led by Inspired Evolution, an Africa-focused investment advisory firm that specializes in the energy sector.

Other consortium partners include Swedfund and Norfund. The deal is a co-investment with Inspired Evolution's second fund, in which FMO invested in 2017.

Now, FMO invests $10.6 million in d.light, funded by the Access to Energy Fund and the Infrastructure Development Fund (IDF).