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The lack of common and widely adopted standards and the fragmentation of data remain a major hurdle to the success of the PAYGo model and the ability of investors to deploy capital to PAYGo companies.
The PAYGo Performance, Reporting and Measurement (PERFORM) initiative ambitions to define and ensure widespread adoption of a common language to understand the performance of PAYGo companies.
In 2026, the PAYGo PERFORM KPIs were revamped with support from a taskforce of experts to focus on a much shorter list of indicators which drive financial performance and impact, and are specific to end-user asset financing. The updated standards are centred around Repayment Rates and Customer Ownership rates. These metrics and the accompanying guidance documents aim to provide a clear set of highly-valuable and trustworthy indicators that will incentivise the outcomes desired for the industry and by the industry.
The KPIs at a glance document offers an overview of the PAYGo PERFORM KPIs and associated methodologies for those seeking to familiarise themselves with the indicators.
The PAYGo PERFORM KPI technical guide provides in-depth methodological guidance to practitioners looking to implement the PAYGo PERFORM KPIs. It includes detailed calculation guidance as well as explaining data processing and data disclosure requirements.
The PAYGo PERFORM Monitor is the data visualisation and benchmarking component of the PAYGo PERFORM initiative. Companies participating in the PAYGo PERFORM Initiative and subscribers to the Atlas Data platform can access benchmarks by clicking on the button below.
The additional resources include further documentation around different use cases for the PAYGo PERFORM KPIs as well as providing guidance around other indicators that can complement the standard.
The Guidance for Company Analysis describes how PAYGo PERFORM KPIs and reporting standards are applied to portfolio quality analysis, net portfolio valuation and expected credit loss, and analysis of customer ownership outcomes.
It is designed for investors, funders, lenders, and PAYGo operators – particularly those responsible for financial analysis, forecasting, performance and risk monitoring, or tracking results against targets and covenants
IFC Lighting Global and GOGLA commissioned MFR to produce a review of accounting practices in the PAYGo sector, with the goal of increasing awareness and transparency of the different accounting treatments used in PAYGo firms and their impact on financial reporting.
The GOGLA newsletter is for everyone who wants to keep abreast of the latest developments in the off-grid solar and electrification sector.