In a press release distributed on December 16, 2021 Symbiotics reported that it “has arranged a USD 15 million Sustainability Bond for Greenlight Planet INC. (“Greenlight Planet”).
This represents a landmark transaction for the leading provider of off-grid solar home energy solutions across markets on the Asian and African continent. Greenlight Planet will use the proceeds of the Green Bond to finance supplier advances, inventory and customer lease structures for pay-as-you-go solar home systems. With the funding received, Greenlight Planet is able to speed-up its mission to bring renewable energy solutions to places where no reliable source of power is currently available.
As a founding member of the Global Off-Grid Lighting Association (GOGLA), Greenlight Planet has been at the forefront of promoting transparent impact reporting. To showcase best practices, Greenlight Planet will report on the greenhouse gas emissions avoided, the number of solar home kits sold and the MWh of clean energy that is generated via the solar home systems provided to its target customers.”
You may read the press release on the news page of the Symbiotics internet site.