Debt financing
Candi Solar raises $58.5 M led by IFC
Mohali, Punjab-based Candi Solar , a clean energy company specializing in distributed solar solutions, has raised USD 58.5 million in debt funding led by the International Finance Corporation (IFC).Founded in 2018, Candi Solar is a distributed energy platform that finances, builds, and manages tailored solar solutions for commercial and industrial businesses in India and South Africa. The raised funds will be used to finance nearly 200 MWp of new projects.This brings Candi Solar's total capital raised to over USD 200 million, following a USD 24 million equity and debt raise earlier this year.Candi Solar aims to expand its contracted portfolio beyond 400 MWp across India and South Africa by 2026, and to enhance its performance-linked product suite, including storage energy solutions.
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