GOGLA Report Reveals Blended Finance Solutions to Bridge $21 Billion Off-Grid Solar Gap

Amsterdam, 9 July 2025

GOGLA, the global association for the off-grid solar industry, in collaboration with Dalberg Advisors and supported by GET.invest, has produced the report Blended Finance of the Future, analysing the role and potential of investment schemes that strategically combine public, private and philanthropic capital to mobilize private capital, in accelerating energy access and sustainable development in the off-grid solar sector.

The off-grid solar industry will need to contribute almost half of the new electricity connections required to achieve SDG7. This would require an annual $1.5 billion investment into the sector, or a sixfold increase versus current levels of investment. Blended finance is one of the most effective mechanisms to bridge financing gaps, build investor confidence and channel capital into underserved markets.

Drawing on seven case studies, the report identifies four key priorities to maximise the impact and scale of blended finance:

• Mobilise more catalytic capital early, using first-loss tranches or guarantees to build confidence and attract commercial investors.

• Intentionally target financing to underserved markets, with mechanisms such as impact-linked incentives and segmented investment tranches

• Adapt financing to the realities of off-grid solar businesses, offering local currency loans, longer tenors, and blended pricing that reflect the operational needs of companies.

• Enhance the efficiency and replicability of blended finance by investing in shared infrastructure, standardised legal frameworks, and transparent data systems.

Applying these learnings to the design and scale of investment vehicles, the off-grid solar sector can harness blended finance as a lever for systemic change, reaching millions more people, accelerating climate progress, and making inclusive energy access a reality.  

You can access the full report here. 

About GOGLA

GOGLA is the global association for the off-grid solar energy industry, representing over 200 members working to transform lives through clean, affordable, and high-quality solar products and services. 

More than 560 million climate-vulnerable people already benefit from off-grid solar to power their homes, farms, enterprises and public infrastructure. Working with partners, our industry is poised to scale rapidly, aiming to improve the lives of 1 billion people by 2030. 

GOGLA drives this progress by serving as a central hub for the sector, offering vital market data, advocating for supportive policies and increased investment, and providing value-added services to our members. 

To find out more, visit www.gogla.org.

About GET.invest

GET.invest is a leading European programme that mobilises investments in clean energy, closing the gap between finance demand and supply. Since 2016, the programme has supported over 600 projects and companies on their journey to financial close - driving energy market development and unlocking potential for partnerships and investment. Through tailored advisory services, GET.invest empowers project and business developers, while its collaborative approach creates opportunities for financiers and partners to engage in impactful, bankable ventures. GET.invest currently operates across sub-Saharan Africa, the Caribbean and the Pacific. The programme is co-funded by the European Union, Germany, Norway, the Netherlands, Sweden and Austria.

Find out more, visit www.get-invest.eu.