candi solar AG
Period
2020
Country
India
Sector
Renewable energy
Financial facility
ElectriFI
ElectriFI committed USD 3 million (EUR 2.68 million) to help finance the expansion of candi solar’s customer base in India and deploy up to 36 MW of photovoltaic solar modules. This system will run under a “save-to-own” power purchase agreement over the next two years, allowing customers to own the plant for free at the end of the contract period.
Project overview
candi is a company that finances, builds and operates solar systems for SMEs in India and South Africa, whereby the aim is to help customers improve their bottom line while at the same time creating a positive environmental impact.
Funding objective
EDFI ElectriFI’s funding will contribute to finance the expansion of the customer base in India and deploy up to 36 MW of photovoltaic solar modules. This system will run under a “save-to-own” power purchase agreement over the next two years, allowing customers to own the plant for free at the end of the contract period.
Investment rationale
Access to an affordable, reliable and clean source of energy continues to hold back the development of SME’s in India and in sub-Saharan Africa. By joining the funding round, EDFI ElectriFI will contribute proving the scalability of the business model and its replicability in sub-Saharan Africa.
Key Indicators
Financial Instrument
Quasi equity
Amount
USD 3 million (equivalent EUR 2.68 million)
Year
October 2020
Targeted impact
