candi solar AG
- Country
- India
- Technology
- Solar PV
- Business model
- CPP
EDFI ElectriFI’s funding will contribute to financing the expansion of candi solar’s customer base in India and its deployment of up to 36 MW of photovoltaic solar modules.
Contract signature date: Oct 2020
Total ElectriFI financing: USD 3m (EUR 2.68m)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
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.
Why ElectriFI wants to fund this project:
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.
Website: https://www.candi.solar/
- Number of beneficiaries
- 152 320
- Annual output (MWh/y)
- 19 264
- GHG avoidance (tCO2eq/y)
- 22 400
Impact
- Beneficiary
- Candi Solar AG
- Financing instrument
- Junior debt
- Amount
- USD 3m (EUR 2.68m)
- Country
- India
- Technology
- Solar PV
- Business model
- Captive Power Plant
- Year
- 2020
- Facility
- ElectriFI Global