SIMA Off-Grid Solar and
Financial Access Senior Debt Fund
Date: 2017
Asset Class: Private Debt
Description: SIMA’s first fund is one of the largest funds in the off-grid solar sector at US $90 million. It is a five-year fund with a layered capital stack that provides senior debt to innovative companies that finance, manufacture, and/or distribute individual solar home systems in sub-Saharan Africa and South Asia. 1.2 billion people around the world do not have access to electricity and are forced to burn costly, environmentally damaging, and unhealthy fossil fuels. The 7% interest payments arrive promptly every quarter and the reporting has been transparent and exemplary especially throughout the pandemic.
Why We Invest: SIMA provides important capital to allow clean electricity access to the underserved with significant environmental, health, economic, and equity impacts. Providing capital to the first fund of this manager has helped them get traction to raise additional funds.