• Sun King to invest $150 million in solar systems by 2030

• Project targets over 2 million homes and businesses

• Move supports Ethiopia’s push to expand electricity access

Sun King, one of the world’s leading off-grid solar companies, has announced a $150 million investment to deploy solar home systems and solar inverters in Ethiopia by 2030.

The investment follows the signing of a memorandum of understanding between the Nairobi-based company and the Ethiopian Investment Commission (EIC) during the “Invest in Ethiopia 2026” forum held on March 26–27 in Addis Ababa.

Under the agreement, Sun King will establish a local subsidiary and build a team of business, operations, and engineering professionals in Addis Ababa. The company will also develop a network of local agents responsible for deploying and maintaining solar solutions in underserved rural and peri-urban communities.

The company’s financing and distribution model, which aims to reach more than 2 million households and businesses, will be adapted to Ethiopia’s market to ensure both wide coverage and affordability. For its part, the Ethiopian Investment Commission has committed to providing full support and fast-tracking the company’s market entry. This includes assistance with investment permits, business licenses, and direct connections with key public and private sector stakeholders.

The planned investment aligns with Ethiopia’s National Electrification Plan and the “Mission 300” initiative, led jointly by the World Bank and the African Development Bank, which aims to expand electricity access to 300 million people across Africa by 2030.

Ethiopia’s national electrification rate currently stands at around 55%, with wide disparities between urban and rural areas. The government aims to raise this rate to between 75% and 80% by 2030, driven by both grid expansion and off-grid solutions, which are expected to serve up to 30% of the population, according to projections from state utility Ethiopian Electric Power (EEP).

Sun King operates an integrated model that combines solar generation, energy-efficient equipment, installation, and customer financing. Its “pay-as-you-go” (PAYG) model allows users to purchase solar systems through installment payments over 12 to 24 months via mobile money services.

The company says it has scaled up from delivering 10,000 solar kits per month in 2017 to more than 330,000 per month today. It aims to reach 1 million kits per month by 2030, targeting the energy needs of about 200 million people.

Walid Kéfi