One of Africa’s largest off-grid solar companies, Sun King, has raised $156 million to deepen its footprint in Kenya’s energy sector.

The funding will enable the company to deliver up to 1.4 million solar products and smartphones to homes and small businesses, many of which remain off-grid.

The financing comes from a coalition of international and local commercial banks, including Citigroup Inc., Stanbic Bank Kenya Ltd., Absa Group Ltd., the Co-operative Bank of Kenya, and KCB Bank Kenya Ltd. Development finance institutions such as British International Investment, FMO (Netherlands), and Norfund (Norway) also participated in the deal.

Sun King is a leading provider of off-grid solar solutions across Africa and Asia. The company supplies solar kits and battery systems that customers can pay for in small, daily installments. The latest raise follows an $80 million fund injection to scale operations in Nigeria and a $260 million Series D round in 2022 to broaden access to clean energy across developing regions.

Beyond the headline figure, the investment signals growing confidence in local clean energy ventures. In particular, the participation of Kenyan banks reflects a notable shift—domestic capital is beginning to play a central role in financing energy access initiatives traditionally backed by foreign donors.

Kenya, already a regional frontrunner in solar electrification, is pushing to achieve universal electricity access by 2030. Industry observers say if more local banks follow suit in backing off-grid solutions, Africa could fast-track its energy transition without relying solely on international aid.