A new Ksh 20 billion project, the largest privately funded initiative in Kenya, is set to provide off-grid solar power to millions of Kenyans, primarily in rural areas. This innovative project is financed by a unique asset-backed security model.

• Approximately 1.4 million solar home systems will be manufactured and sold to Kenyans.
• The project was arranged by a global American financier and facilitated by an off-grid solar energy company.
• Citi and four Kenyan banks provided the senior tranche of funding, while Development Finance Institutions (DFIs) like British International Investment and the Dutch development bank FMO absorbed the riskier tranche.
• Customers will use a pay-as-you-go (PAYG) model, with a small deposit of about Ksh 904 and weekly payments over 12 to 18 months.