Members’ area

Freyr Energy

Period

2023

Country

India

Sector

Renewable energy

Financial facility

ElectriFI

EDFI ElectriFI invested USD 3 million to Freyr Energy, to unlock international/European capital and local debt to create local jobs in the renewable energy sector

Project overview

Freyr Energy is an Indian Engineering Procurement and Construction (“EPC”) company, whose mission consists in facilitating the transition towards solar for individuals and MSMEs. The purpose of this investment is to unlock international/European capital and local debt to create local jobs in the renewable energy sector. The project consists in a USD 3m equity co-investment into Freyr Energy Services Singapore Pte. Ltd to finance operations in India.

Funding objective

The objective pursued by ElectriFI is threefold; i) use of
clean energy among Indian households and MSMEs; ii)
local job creation; and iii) catalysing additional equity
and debt investments.

Investment rationale

ElectriFI is supportive of Freyr Energy business model
as it is replacing fossil fuel-based energy sources while
bringing high-quality, stable, lower cost, clean energy
to households, MSMEs and C&I in India, with a high
additionality both in terms of financial and E&S
impact.

Key Indicators

Financial Instrument

Equity

Amount

USD 3 million

Year

2023