Acumen Backs Sun King Solar Expansion in Zambia

Acumen has injected $5 million into Sun King's Zambian operations, aiming to significantly broaden access to off-grid solar energy across the nation. This strategic equity investment, channeled through Acumen's specialized Hardest-to-Reach (H2R) Catalyze initiative, is designed not only to bolster Sun King's on-the-ground capabilities but also to catalyze further financing from local financial institutions, enabling sustained growth beyond this initial capital infusion.

The funding arrives at a critical juncture for Zambia, a country grappling with a substantial electricity access deficit. With nearly half its population still unconnected to the national grid and rural access hovering at a mere 33%, the demand for alternative energy solutions is immense. This is particularly pertinent given Zambia's heavy reliance on hydropower, which constitutes 80% of its electricity generation, highlighting the need for diversification and decentralized energy sources.

Sun King, a prominent player in the pay-as-you-go solar sector, is set to leverage this investment to extend its reach to an estimated 5.6 million individuals over the next five years. A key objective is to bring electricity to approximately 4.5 million Zambians who currently lack access, empowering households and businesses with reliable and affordable solar power systems. Sun King's established model allows customers to acquire solar kits and appliances, including lights and televisions, through manageable installment plans facilitated by mobile money, typically spanning 12 to 24 months.

This expansion aligns perfectly with Acumen's H2R Catalyze program, a substantial $250 million effort dedicated to advancing clean energy access in 17 underserved African markets. "Sun King's demonstrated success in other regions, coupled with the clear need for accessible, clean energy in Zambia, convinced us of their potential for rapid scaling in this market," stated Sandra Halilovic, Head of H2R Catalyze at Acumen. "Our investment is structured to accelerate this expansion and bridge the energy gap more swiftly, while simultaneously encouraging local currency debt from domestic lenders."

Since commencing operations in Zambia in 2021 (initially as Greenlight Planet Zambia), Sun King has already distributed one million solar kits. The company's broader success is evidenced by its recent securing of $156 million in Kenya in July 2025 from commercial and development finance institutions, underpinned by future customer payments. Furthermore, Sun King has established its first large-scale manufacturing facility in Nairobi, underscoring its commitment to operational expansion across the continent.

Acumen's H2R initiative has a history of supporting off-grid energy ventures in various African nations, employing diverse financing mechanisms. In Zambia, the initiative previously supported solar distributor RDG Collective with a $1.25 million impact-indexed loan, facilitating inventory for solar home systems and generators, projected to benefit 66,000 people and power 180 small businesses. This latest investment in Sun King signifies a continued commitment to driving impactful energy solutions in challenging markets.