SunFunder completes Solar Energy Transformation (SET) Fund

SunFunder has fully closed the oversubscribed US$70 million Solar Energy Transformation (SET) Fund, following an investment by OeEB, the development bank of Austria.

The Fund joins other institutional, impact, foundation, and individual investors in the blended finance vehicle focused on distributed solar and storage investments in Africa and Asia that help to mitigate climate change and improve energy access.

The SET Fund has received investments from Swedfund, Bank of America, Mercy Investment Services, The Schmidt Family Foundation, and several individual investors, including from the Toniic impact investor network. The first close investors are the US Development Finance Corporation (DFC), Calvert Impact Capital, Ceniarth, and the IKEA Foundation. DFC is also a risk tool partner of the SET Fund, alongside Sida and MFX Solutions.