Sun King to Invest US$50 Million in Madagascar Off-Grid Solar Expansion
Off-grid solar company Sun King plans to invest up to US$50 million in Madagascar over the next five years, targeting the expansion of affordable electricity access to underserved households across the country.
The investment is expected to support the rollout of solar home systems and help deliver 1.5 million new electricity connections by 2030, strengthening access to reliable power in communities beyond the reach of conventional electricity infrastructure.
Sun King’s expansion will build on its pay-as-you-go (PAYGo) model, which allows customers to access solar systems through affordable instalment payments rather than paying the full cost upfront.
The model is designed to address one of the major barriers to solar adoption in low-income and remote communities: the high upfront cost of energy systems.
Madagascar continues to face a significant electricity-access challenge, particularly in rural areas where households often remain beyond the reach of grid infrastructure. Off-grid solar systems can provide an alternative source of electricity for homes, small businesses and other underserved users.
Sun King has established a large distribution network across Africa, using local agents to sell, install and service solar products.
The company says it has deployed more than 30 million solar products globally and operates across 13 countries.
The Madagascar investment comes as Sun King continues to attract capital to expand its off-grid energy business.
In December 2025, the company raised US$40 million from Lightrock to support its expansion across Africa and Asia, product development and installation infrastructure.
The company has also been using innovative financing structures to scale its PAYGo model, including securitisation of customer receivables. Such financing is increasingly attracting institutional investors to Africa’s off-grid solar sector.
For Madagascar, the planned investment could help accelerate rural electrification while supporting the growth of small businesses and household access to essential electrical services.
Sun King’s expansion also reflects a broader shift towards decentralised energy solutions across Africa, where off-grid solar is increasingly being used to bridge gaps left by traditional electricity networks.
