EGEB: Solar pay-as-you-go market leader secures $90M
Sub-Saharan solar boost
Greenlight Planet, which, under its Sun King brand, operates the largest direct-to-consumer pay-as-you-go (PAYG) solar distribution and service network in the world, has secured $90 million from impact investors and European development finance institutions to expand its PAYG solar consumer financing business and consolidate its debt portfolio.
It’s delivered more than 1.3 million PAYG solar products to date in Kenya, Tanzania, Uganda, and Nigeria, expanding at a rate of more than 65,000 new rooftop solar installations per month. Since 2009, it’s sold more than 13 million of its Sun King solar home energy products to off-grid customers.
$69 million has been disbursed to the company, with the balance to be drawn down as the company delivers additional solar-powered home energy systems, with end-consumer financing, to homes in Africa.
Sun King solar products include home lighting, mobile phone chargers, radios, televisions, and fans, as well as the solar panels and batteries to power these appliances.
Greenlight Planet cofounder and CEO T. Patrick Walsh told Electrek:
Maryland’s foam product ban
Maryland will become the first US state to ban the use of foam containers for take-out as of October 1. The change is biggest for restaurants and schools. The original ban date was July 1 but it was pushed back to the fall due to the pandemic. If restaurants violate the ban, they will face a $250 fine.
Foam products cannot be recycled. Sciencing explains why the petroleum-based material is so bad for the environment:
The ban includes items such as plates, cups, containers, and trays, and while some Maryland counties already have foam bans in place, this now makes it statewide. Cardboard and paper products are viable alternatives and break down within weeks to months.
Source : electrek
