IDB Invest backs off-grid solar installer Kingo with $5m

IDB Invest, the private sector arm of the Inter-American Development Bank Group, said it has made a USD-5-million (EUR 4.2m) equity investment in Guatemala-based prepaid solar services provider Kingo Energy to support its business model and growth plans. Kingo Energy serves customers mainly in Guatemala and Colombia, providing pay-as-you-go solar power solutions to the poorest communities living in remote and off-grid rural areas. The company is looking to expand to other countries in Latin America.

Source: Renewables now