Bedell Cristin guides investors in Kenya solar homes funding

Posted: 23/06/2022

A team from Bedell Cristin in Jersey, working with the London and New York offices of global law firm Hogan Lovells, has advised investors on the Jersey aspects of a $62m debt facility that will help develop sustainable energy use in Africa.

The borrower, Brighter Life Kenya 2 (BLK2), is a special-purpose vehicle established to purchase receivables for solar home systems originated by d.light in Kenya. 

BLK2 was set up by Solar Frontier Capital, a wholly owned subsidiary of African Frontier Capital, in consultation with d.light Design, a provider of solar energy products. 

Financing under the debt facility will help provide d.light with working capital to provide renewable lighting to people living off-grid in Kenya.

The group of lenders represented by Bedell Cristin and Hogan Lovells includes: Norwegian company Norfund; Oikocredit, Ecumenical Development Cooperative Society; three vehicles managed by responsAbility Investments; and the United States International Development Finance Corporation.

The Bedell Cristin team was led by Partner Alasdair Hunter, supported by Senior Associate Malcolm Ellis and Legal Assistant Donna Watts.

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