Husk Power Systems
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Project overview
Husk provides electricity to rural households and businesses using decentralized hybrid mini-grids of 30 kWp solar PV and biomass to generate electricity 24/7. Established in 2011, it has become a leader in the mini-grid sector in India.
Funding objective
EDFI ElectriFI has invested USD 10m in Husk Power Systems to construct 120 new mini-grids in North India creating new connections for ~118,000 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.
Key Indicators
Targeted impact
118,750 beneficiaries
Targeted impact
avoiding the 14,616 tons of CO2.
Financial Instrument
Senior debt
Amount
USD 10m
Year
August 2022 and November 2024
