DFC guaranty catalyzes $20m to support off-grid renewable power
The US International Development Finance Corporation (DFC) has signed a credit guaranty on a portfolio of loans arranged by Trine AB to expand access to off-grid renewable power and lighting solutions.
A $10 million DFC guaranty, with a focus on expanding electricity provision across Latin America and the Caribbean, will catalyze $20 million in loans arranged by Trine AB to bolster companies supporting solar home systems, commercial and industrial solar projects, and mini-grids.
Trine is a crowdfunding platform launched in 2015 which enables individual investors to finance off-grid solar projects across Sub-Saharan Africa, Asia, Latin America, and the Caribbean. DFC’s support will help Trine AB provide more financing to corporate borrowers, increasing the number of people, particularly in rural communities and island nations, with access to clean, reliable energy. Trine estimates that DFC’s guaranty will provide electricity to more than 600,000 people while offsetting close to 200,000 tonnes of carbon dioxide emissions.
