$500M Fund Brings Clean Energy to 660 Million Without Power

More than 660 million people worldwide still wake up each morning without access to electricity, while 2.1 billion rely on dangerous cooking fuels that harm their health and hold back their communities.

That's about to change for millions of families. Lightrock, a sustainability-focused investment firm, just raised $500 million for a new fund called Accelerate7 that will help promising clean energy companies expand across Sub-Saharan Africa, South Asia, and Southeast Asia.

The fund has already backed four companies making real progress on the ground. SolarSquare installs rooftop solar systems. Sun King delivers off-grid solar energy to remote areas. Euler Motors manufactures electric vehicles in India. ATEC Global produces smart clean cookstoves that monitor usage and reduce harmful emissions.

Each company will receive between $10 million and $50 million to scale up operations. They're not startups testing unproven ideas. They're growth-stage businesses that have already shown they can deliver results and are ready to reach more people.

Major energy companies including Shell, TotalEnergies, and Equinor joined the fund as investors. Their backing signals growing confidence that clean energy access isn't just good for communities but makes solid business sense too.

The Ripple Effect

When families gain access to electricity for the first time, everything changes. Kids can study after dark. Clinics can refrigerate medicine. Small businesses can operate longer hours and earn more income.

Clean cooking solutions prevent respiratory diseases caused by indoor smoke from traditional fuels. Women and girls who previously spent hours collecting firewood gain time for education and income-generating work.

With this new fund, Lightrock has now committed approximately $2 billion total to energy transition and climate investments. The firm partnered with TRIREC, a Southeast Asia investment platform, to identify the most promising companies serving communities without reliable energy.

Ademidun Edosomwan, who leads Lightrock's energy access team, explained their approach: "We are backing businesses that have already demonstrated strong execution and are ready to scale." The focus is on proven operators with solid business models that can deliver lasting impact.

The companies receiving funding will bring affordable, reliable, sustainable energy to regions where access has been limited for generations, opening doors to economic opportunity and better health for millions.