• Sun King raises $40 million equity from sustainable investor Lightrock
• Funding to expand off-grid solar operations across Africa and Asia
• Decentralized solar seen as key to expanding rural electricity access

Off-grid solar company Sun King has raised $40 million in equity funding from sustainable investment platform Lightrock, the company said on Friday.

The funds will support the expansion of its decentralized solar business in Africa and Asia and strengthen its products as well as its installation, distribution and service networks.

Founded 18 years ago, Sun King operates an integrated model combining solar generation, high-efficiency appliances, installation and customer financing, including payment plans ranging from 12 to 24 months. The company said monthly deliveries have increased from 10,000 solar kits in 2017 to more than 330,000 today. It aims to reach one million kits per month by 2030, enough to meet the energy needs of 200 million people.

Sun King operates in 11 African countries and plans to expand its distribution and service network, which includes more than 470 shops. The fundraising comes as decentralized solutions such as mini-grids and standalone solar systems are increasingly seen as one of the most effective ways to expand electricity access, particularly in rural areas where grid expansion is prohibitively expensive.

In a 2025 report, the International Energy Agency (IEA) said committed financing for such solutions in sub-Saharan Africa reached $870 million in 2023, up 20% from 2019. To achieve universal energy access in the region by 2035, annual investment in mini-grids would need to reach about $6 billion, with an additional $5 billion required for solar home systems, the IEA said.

Abdoullah Diop