• World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 30, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
D.Light Design Inc.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jan 7, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the project disclosure page, FMO is investing up to EUR 10 million along with Swedfund and Norfund and lead-investor Evolution II Fund, Inspired Evolution Investment Management's second fund. Funding is to provide the company with the necessary capital to allow the company's further growth and further consolidate its position as market leader.

The project has a high developmental impact as d.light provides solar solutions to lower income households in Africa and South-Asia, thereby positively impacting electrification, environment, health and employment. Financing renewable energy production is in the core of FMO's strategy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO, d.light is a leading off-grid energy provider that offers a range of solutions to lower income households, from small solar-lanterns to pay-as-you-go (“PAYGO”) solar home systems. d.light has its headquarters in Nairobi and mostly sells and finances these products in East Africa and India, thereby providing a sustainable alternative to polluting kerosene lanterns and other fossil fuel based alternative energy sources.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Inspired Evolution Investment Management Investor Finance invests in D.Light Design Inc. Client Energy
Norfund Investor Finance invests in D.Light Design Inc. Client Energy
Swedfund International AB Investor Finance invests in D.Light Design Inc. Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - D.Light Design Inc.:

Addresses -
USA: 2100 Geng Road, Suite 210, Palo Alto, California, 94303, United States of America
China: 6F, d.light Tower, Block NO.543, Bagua 5th Street, Futian, Shenzhen, GD Province, PRC
India: 902, 9th Floor Time Tower Near MG Road Metro Gurgaon 122002
Kenya: Nairobi Business Park, Unit B, 1st Floor (Ngong Road) / P.O Box 51116-00100 Nairobi Kenya
Uganda: 14 Hill Lane, Plot 32 Kololo, Kampala / P.O Box 37460 Kampala
Nigeria: 29, Remi Fani-Kayode Avenue,G.R.A Ikeja, Lagos
Tanzania: 57 Haile Selassie Rd, Arusha
Phone -
Nigeria: +234-813-460-3860
Uganda: +256-393-217-005
Kenya: +254 (20) 216 953 / +254 (20) 210 793
India: +91 1800208-2110
China: +86-755-2518-2283
Email -
Nigeria: ccnigeria@dlight.com
Tanzania: cctanzania@dlight.com
Uganda: ccuganda@dlight.com
Kenya: cckenya@dlight.com
Website: https://www.dlight.com/


As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl


Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works