Husk Power Systems

Period

2022

Country

India

Sector

Renewable energy

Financial facility

ElectriFI

ElectriFI invests USD 6M in hybrid mini-grids provider Husk Power Systems to generate reliable electricity for Indian households, MSMEs, and factories in rural areas without grid connection.

Project overview

ElectriFI committed USD 6M to enable electricity generation for households, MSMEs and factories in rural areas without grid connection or where the grid is not providing reliable electricity in India. This investment will allow the company to expand its hybrid mini-grid base to up to 350 plants over India by end of 2022.

Husk Power Systems is a company established in India providing electricity to rural households and businesses using decentralized hybrid mini-grids (solar PV and biomass) to generate electricity 24/7. Established in 2011, it has become a leader in the mini-grid sector in India with 125+ operating mini-grid sites, totalling 3.8 MW installed capacity and connecting around 6,027 customers in Uttar Pradesh and Bihar states.

Funding objective

EDFI ElectriFI is investing USD 6m in Husk Power Systems, Inc. alongside other financiers enabling the company to expand its hybrid mini-grid base to up to 350 plants over India by end of 2023… The objective is to create long-term impact by powering around 17,750
new connections for ~88,000 beneficiaries.

Investment rationale

EDFI ElectriFI is supportive of Husk business model as it effectively enables electricity generation for households, MSMEs and factories in rural areas
without grid connection or where the grid is not providing reliable electricity. Solar-powered equipment are substitutes of costly and polluting diesel generators or petrol-powered equipment.