Africa’s off-grid solar industry has been turned into an asset class for the first time, bundling contracts for thousands of the sun-powered rooftop electricity systems to sell as bonds.
Dutch investor Oikocredit International and Persistent Energy Capital LLC, a New York-based merchant bank, jointly decided to try to replicate the U.S. model of securitizing residential solar panels. They are working with the London-based developer BBOXX Ltd.
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