“The proposed facility increase of $3 million will add up to the existing receivables facility with M-Kopa Kenya. This will allow the company to continue its growth trajectory and provide more products to its customers,” FMO said in a note. Half the amount will come from Access to Energy Fund, which is an FMO-managed vehicle dedicated to financing energy projects in developing countries. The other half will be provided by Massif Fund, a vehicle that supports innovative businesses.

Read more: Ecofin Agency