Hogan Lovells guides investors in US$62 million Kenya solar homes funding

New York and London, 16 June 2022 – A team from global law firm Hogan Lovells has advised a group of investors in a US$62 million debt facility that will further develop sustainable energy use in Africa.

The borrower, Brighter Life Kenya 2 Ltd (BLK2), is a special purpose vehicle established to purchase receivables for solar home systems originated by d.light Limited in Kenya. BLK2 was set up by Solar Frontier Capital Limited, a wholly owned subsidiary of African Frontier Capital, and in consultation with d.light Design Inc., a leading provider of solar energy products. Financing under the debt facility will help provide d.light Limited with working capital to foster its sustainable growth and continuing impact on millions of lives by providing renewable lighting to people living off-grid in Kenya.

The group of senior lenders represented by Hogan Lovells consists of:

  • Norfund, a Norwegian state-owned company with limited liability;
  • Oikocredit, Ecumenical Development Cooperative Society U.A., a cooperative society with excluded liability;
  • Three vehicles managed by responsAbility Investments AG
  • United States International Development Finance Corporation (DFC), an agency of the United States of America

The Hogan Lovells team was led by New York partner Ricardo S. Martinez and London partner Andrew Taylor. They were supported by counsel Todd Matras, senior associates Adam Lapidus, Chris Bonilla (all New York) and Lina Perez (Los Angeles) and associates Oliver Travers and Simon Cowell (both London).


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