Offgrid financing – Greenlight Planet

Trinity International is pleased to announce that it advised the development finance institutions of the governments of the United Kingdom, the Netherlands and Norway, (CDC Group plc, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”) and Norfund) on their financing of Greenlight Planet.

Greenlight Planet is a provider of solar-powered home lights and home energy systems (for powering mobile phones, televisions, fans and other domestic appliances) where customers purchase and pay for their home systems and associated devices through a “Pay-As-You-Go” model.  Greenlight Planet therefore provides clean and green first-time energy access to households in areas with an unreliable or non-existent grid connection.. The financing from CDC, FMO and Norfund will allow Greenlight Planet to expand and scale-up its offerings.

The cross-border nature of this transaction showcased Trinity’s strengths, coordinating a financing across seven different transactions (including Hong Kong and India as well across several jurisdictions in sub-Saharan Africa), as well as showcasing our commitment to finding innovative solutions in emerging market climate finance. The transaction involved a complex local currency and receivables financing structure.

The Trinity team was led by partner Tom Eldert and counsel Eric Filipink from Trinity’s Washington, DC office and by partners Kaushik Ray and Fiona Gulliford and associate Elizabeth Handley from London.