In-depth

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Perspective
31 January 2026

Ilute Solar: DFIs support an African merchant pioneer

In:
Renewables
Region:
Middle East & Africa
Contributor
Zambia’s Ilute solar project reached financial close without a sovereign guarantee, using a layered capital structure to absorb merchant price risk. It provides a template for how market-based renewables can be financed in frontier markets - but the structure is still dependent on DFIs.

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